American Exchange Group to Acquire Allbirds Assets in $39 Million Deal

Stock News03-31 11:10

American Exchange Group reached an agreement on Monday to acquire all assets and liabilities of footwear manufacturer Allbirds, Inc. (BIRD.US) for $39 million. The shoemaker stated that it plans to file a proxy statement by April 24 to seek shareholder approval for the asset sale, followed by the company's dissolution and liquidation. In after-hours trading, Allbirds' stock rose approximately 32% to $3.92. The transaction is expected to be completed in the second quarter of 2026. After deducting liquidation expenses, net proceeds are anticipated to be distributed to shareholders in the third quarter. Allbirds CEO Joe Vernacchio stated, "This new chapter with American Exchange builds upon foundational work already completed and will help the brand thrive in the coming years." Allbirds had previously shifted its focus from physical stores to online retail to improve profitability. The company closed its remaining U.S. direct-operated stores by the end of February, reallocating resources to e-commerce and partnership channels. TD Cowen served as financial advisor to Allbirds, with Holland & Hart LLP acting as legal counsel.

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