bark-20230713

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date Earliest Event Reported):

July 13, 2023

BARK, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39691

85-1872418

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

120 Broadway, Floor 12

New York, NY

10271

(Zip Code)

(Address of Principal Executive Offices)

(855) 501-2275

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on

which registered

Common Stock, par value $0.0001

BARK

New York Stock Exchange

Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share

BARK WS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On July 13, 2023, BARK, Inc. (the “Company”) announced a cost reduction initiative that is intended to further accelerate the Company’s strategic priorities of reaching sustainable profitability and free cash flow generation, improving its organizational and capital efficiency, and streamlining its cost structure. This initiative is expected to achieve approximately $7.2 million in annualized cost savings.

In accordance with the initiative, there will be a net reduction of 66 positions or approximately 8% of the Company's total workforce. The Company estimates that it will incur charges of approximately $1.4 million in the second quarter of fiscal year 2024, primarily related to cash expenditures for severance payments and payroll taxes.

This Current Report on Form 8-K contains forward-looking statements related to the expected benefits and impacts of the elimination of these positions. These forward-looking statements are based only on the Company's current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Risks include, but are not limited to, risks described in the Company's filings with the Securities and Exchange Commission (“SEC”), including its Form 10-K for the fiscal year ended March 31, 2023, and the Company's future reports filed with the SEC from time to time, which could cause actual results to vary from expectations. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


BARK, Inc.


By:			/s/ Allison Koehler
			Name: Allison Koehler
			Title: General Counsel and Secretary

Date: July 13, 2023

BARK Inc. filed SEC Form 8-K: Regulation FD Disclosure