Shares of Northern Star Acquisition Corp. (STIC), a New York-based special purpose acquisition company, are gaining almost 27 percent or $3.95 in Thursday's morning trade at $18.78, after hitting a new 52-week high of $19.50 despite no comnpany-centric news.
U.S. stocks are modestly higher on Thursday, with activity likely to be subdued during a holiday-shortened session. Reports the U.K. and the European Union are closing in on a post-Brexit trade agreement and optimism about the economic recovery following the rollout of coronavirus vaccines generated early buying interest.
Barkbox, Inc., an omni-channel brand for dogs, and Northern Star Acquisition Corp. said on December 17 that they have entered into a definitive merger agreement that values Barkbox an enterprise value of about $1.6 billion. As a result of the transaction, BARK will become a publicly listed company on the New York Stock Exchange under the new ticker symbol, "BARK".
BARK serves over 1 million dogs monthly through BarkBox and Super Chewer subscriptions as well as retail distribution of its comprehensive suite of proprietary products.
Northern Star Acquisition has traded in a range of $11.50 to $19.50 in the past 52 weeks.
For comments and feedback contact: editorial@rttnews.com
