Bark, Inc 8-K, filed Jul 13, 2023
Bark, Inc. (BARK)
8-K
2023-07-13
For: 2023-07-13
View Original
Added on
April 09, 2026
About this 8-K
Bark, Inc filed this 8-K on July 13, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
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):
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(855 ) 501-2275
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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