Magnetar Financial Exits Bark Inc. (BARK) Position

TL;DR

**Magnetar Financial just dumped all its BARK shares, watch out for a dip.**

AI Summary

Magnetar Financial LLC, a Delaware-based investment firm, has filed an exit amendment to its Schedule 13G, indicating they no longer hold a reportable stake in Bark, Inc. (BARK) as of December 31, 2023. This means Magnetar, along with its affiliates Magnetar Capital Partners LP and Supernova Management LLC, has sold off its significant ownership of Bark's common stock, par value $0.0001. This matters to investors because a large institutional investor exiting its position can signal a loss of confidence in the company's future prospects, potentially leading to downward pressure on the stock price.

Why It Matters

A major institutional investor, Magnetar Financial LLC, has sold its entire reportable stake in Bark, Inc., which could signal a lack of confidence in the company's future performance and potentially impact investor sentiment.

Risk Assessment

Risk Level: medium — The exit of a significant institutional investor like Magnetar Financial LLC could indicate underlying concerns about Bark, Inc.'s future, posing a moderate risk to current and prospective shareholders.

Analyst Insight

A smart investor would closely monitor Bark, Inc.'s stock performance and news for any further institutional exits or negative catalysts, considering this exit as a potential red flag.

Key Numbers

• December 31, 2023 — Date of Event (This is the date Magnetar Financial LLC no longer held a reportable stake in Bark, Inc.)
• $0.0001 — Par Value (This is the par value per share of Bark, Inc. Common Stock.)

Key Players & Entities

• Magnetar Financial LLC (company) — the reporting person exiting its position in Bark, Inc.
• Bark, Inc. (company) — the subject company whose securities were sold
• Magnetar Capital Partners LP (company) — a group member associated with Magnetar Financial LLC
• Supernova Management LLC (company) — a group member associated with Magnetar Financial LLC
• David J. Snyderman (person) — a group member associated with Magnetar Financial LLC
• December 31, 2023 (date) — the date of the event requiring the filing
• $0.0001 (dollar_amount) — the par value of Bark, Inc. common stock

Forward-Looking Statements

• Bark, Inc.'s stock price may experience downward pressure in the short term. (Bark, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Bark, Inc. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• tm243910d22_sc13ga.htm (SC 13G/A) — 141KB
• tm243910d22_ex99-1.htm (EX-99.1) — 11KB
• tm243910d22_ex99-2.htm (EX-99.2) — 5KB
• 0001104659-24-008549.txt ( ) — 159KB

(a) Name

Item 1(a) Name of Issuer. Bark, Inc. (the “Issuer”)

(b) Address

Item 1(b) Address of Issuer’s Principal Executive Offices. 120 Broadway, Floor 12 New York, NY 10271

(a) Name

Item 2(a) Name of Person Filing. This statement is filed on behalf of each of the following person (collectively, the “Reporting Persons”): i) Magnetar Financial LLC (“Magnetar Financial”); ii) Magnetar Capital Partners LP (Magnetar Capital Partners”); iii) Supernova Management LLC (“Supernova Management”); and iv) David J. Snyderman (“Mr. Snyderman”). This statement relates to the Shares (as defined herein) held for Magnetar Constellation Fund II, Ltd (“Constellation Fund II”), Magnetar Constellation Master Fund, Ltd (“Constellation Master Fund”), Magnetar Xing He Master Fund Ltd (“Xing He Master Fund”), Purpose Alternative Credit Fund Ltd ("Purpose Fund"), Magnetar SC Fund Ltd (“SC Fund”), all Cayman Islands exempted companies; Magnetar Structured Credit Fund, LP (“Structured Credit Fund”) and Magnetar Longhorn Fund LP (“Longhorn Fund”), Delaware limited partnerships; Magnetar Lake Credit Fund LLC ("Lake Credit Fund"), Purpose Alternative Credit Fund - T LLC ("Purpose Fund - T"), Purpose Alternative Credit Fund – F LLC (“Purpose Fund F”), Delaware limited liability companies; collectively (the “Magnetar Funds”). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds’ accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Snyderman.

(b) Address

Item 2(b) Address of Principal Business Office. The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13 th Floor, Evanston, Illinois 60201.

(c) Place

Item 2(c) Place of Organization. i) Magnetar Financial is a Delaware limited liability company; ii) Magnetar Capital Partners is a Delaware limited partnership; iii) Supernova Management is a Delaware limited liability company; and iv) Mr. Snyderman is a citizen of the United

(d) Title

Item 2(d) Title of Class of Securities. Common Stock

(e) CUSIP

Item 2(e) CUSIP Number. 68622E104

Reporting

Item 3 Reporting Person. (e) An investment adviser in accordance with §240.13d–1(b)(1)(ii)(E) (g) A parent holding company or control person in accordance with §240.13d–1(b)(1)(ii)(G)

(a) Amount

Item 4(a) Amount Beneficially Owned: As of December 31, 2022, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 6,622,098 Shares. The amount consists of (A) 587,151 Shares held for the account of Constellation Fund II; (B) 2,053,539 Shares held for the account of Constellation Master Fund; (C) 721,664 Shares held for the account of Lake Credit Fund; (D) 480,499 Shares held for the account of Longhorn Fund; (E) 1,346,258 Shares held for the account of Structured Credit Fund; (F) 717,503 Shares held for the account of Xing He Master Fund; (G) 73,393 Shares held for the account of Purpose Fund; (H) 224,177 Shares held for the account of Purpose Fund – T; (I) 376,914 Shares held for the account of Purpose Fund – F; and (J) 41,00 Shares held for the account of SC Fund. The Shares held by the Magnetar Funds represent approximately 3.62% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).

(b) Percent

Item 4(b) Percent of Class: (i) As of December 31, 2023, each of Reporting Persons were deemed to be the beneficial owner constituting approximately 3.62% of the total number of shares outstanding (based upon the information provided by the Issuer in its Form 10-Q filed with the SEC February 9, 2023, there were approximately 179,280,860 Shares outstanding as of February 6, 2023). With the convertible bonds owned by the Funds, the diluted shares outstanding is 182,936,391. Item4(c) Number of Shares of which such person has: Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote : 6,622,098 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 6,622,098

Ownership

Item 5 Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .

Ownership

Item 6 Ownership of More Than Five Percent on Behalf of Another Person. This Item 6 is not applicable.

Identification and Classification of the Subsidiary which Acquired

Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company. This Item 7 is not applicable.

Identification and Classification of Members of the Group

Item 8 Identification and Classification of Members of the Group. This Item 8 is not applicable.

Notice of Dissolution of Group

Item 9 Notice of Dissolution of Group. This Item 9 is not applicable.

Certification

Item 10 Certification. By signing below the Reporting Persons certifies that, to the best of their knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 31, 2024 magnetar financial llc By: Magnetar Capital Partners LP, its Sole Member By: Supernova Management LLC, its General Partner By: /s/ Michael A. Turro Name: Michael A. Turro Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 31, 2024 magnetar capital partners LP By: Supernova Management LLC, its General Partner By: /s/ Michael A. Turro Name: Michael A. Turro Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 31, 2024 supernova management llc By: /s/ Michael A. Turro Name: Michael A. Turro Title: Attorney-in-fact for David J. Snyderman, Manager Date: January 31, 2024 DAVID J. SNYDERMAN By: /s/ Michael A. Turro Name: Michael A. Turro Title: Attorney-in-fact for David J. Snyderman EXHIBIT INDEX Exhibit No. Description 99.1 Joint Filing Agreement, dated as of January 31, 2024, among the Reporting Persons. 99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on January 31, 2024.

View Full Filing

View this SC 13G/A filing on SEC EDGAR