SAN FRANCISCO, April 15, 2026 (GLOBE NEWSWIRE) — Following its prior announcement that it has entered into a definitive settlement to promote the Allbirds model and footwear belongings to American Exchange Group, which intends to proceed to construct on Allbirds’ legacy and ship compelling merchandise to Allbirds’ prospects (the “Asset Sale”), Allbirds, Inc. (Nasdaq: BIRD) (the “Company”) at present introduced the execution of a definitive settlement with an institutional investor for a $50 million convertible financing facility (the “Facility”). The Facility, which is anticipated to shut through the second quarter of 2026, will allow the Company to pivot its enterprise to AI compute infrastructure, with a long-term imaginative and prescient to develop into a totally built-in GPU-as-a-Service (GPUaaS) and AI-native cloud options supplier. In reference to this pivot, the Company anticipates altering its title to “NewBird AI.”
As described within the Company’s proxy supplies filed with the Securities and Exchange Commission, conversion of the Facility is topic to stockholder approval on the upcoming Special Meeting of Stockholders, anticipated to happen on May 18, 2026, for stockholders of report as of April 13, 2026. Additionally, topic to stockholder approval of the Asset Sale, Allbirds, Inc. anticipates issuing a particular dividend through the third quarter of 2026 to stockholders of report as of the anticipated dividend report date of May 20, 2026.
As a results of these transactions, the Allbirds model and legacy will proceed beneath the possession of American Exchange Group for the good thing about all of its prospects, buyers as of the dividend report date will obtain a particular dividend, and buyers who elect to proceed to carry NewBird AI inventory can be invested in a rising AI compute infrastructure enterprise supported by the Facility.
Chardan is serving as placement agent on the Facility and Holland & Hart LLP is performing as authorized counsel to Allbirds.
The AI Compute Infrastructure Strategy & Long-Term Opportunity
NewBird AI expects to make use of preliminary capital from the Facility to accumulate high-performance GPU belongings, which can be deployed to serve prospects requiring devoted entry to AI compute capability. NewBird AI’s long-term imaginative and prescient is to develop into a totally built-in GPU-as-a-Service (GPUaaS) and AI-native cloud options supplier. Over time, the Company intends to develop its neocloud platform by increasing its compute and repair choices, deepening partnerships with operators and prospects, and evaluating strategic M&A alternatives.
The rise of AI growth and adoption has created unprecedented structural demand for specialised, high-performance compute that the market is struggling to fulfill. Global enterprise spending on AI providers and knowledge heart funding are on the rise. At the identical time, GPU procurement lead instances are growing for high-end {hardware}, North American knowledge heart emptiness charges have reached historic lows, and market-wide compute capability coming on-line via mid-2026 is already absolutely dedicated. The result’s a market the place enterprises, AI builders, and analysis organizations are unable to safe the compute sources they should construct, practice and run AI at scale.
NewBird AI is being constructed to assist shut that hole. The Company will initially search to accumulate high-performance, low-latency AI compute {hardware} and supply entry beneath long-term lease preparations, assembly buyer demand that spot markets and hyperscalers are unable to reliably service.
Participants within the Solicitation
Allbirds and its administrators and government officers could also be deemed “participants” in any solicitation of proxies from Allbirds’ stockholders with respect to the Asset Sale and Facility. Information concerning the id of Allbirds’ administrators and government officers, and their direct and oblique pursuits, by safety holdings or in any other case, within the Company’s securities is contained within the Company’s Annual Report on Form 10-Ok for the fiscal yr ended December 31, 2025. Information concerning subsequent modifications to the holdings of Allbirds’ securities by Allbirds’ administrators and government officers might be present in filings on Forms 3, 4, and 5, which can be found via the SEC’s web site at www.sec.gov. Additional data concerning the id of potential individuals, and their direct or oblique pursuits, by safety holdings or in any other case, can be set forth within the proxy assertion regarding the Asset Sale and Facility if, and when, it’s filed with the SEC. The proxy assertion, if and when filed, in addition to Allbirds’ different public filings with the SEC, could also be obtained with out cost on the SEC’s web site at www.sec.gov and on the investor relations part of our web site at ir.allbirds.com.
Forward-Looking Statements
This press launch comprises “forward-looking statements” inside the which means of federal securities legal guidelines. These statements are primarily based on administration’s present beliefs, assumptions, and data, and embrace all statements aside from historic information—resembling statements concerning or implying Allbirds’ expectations and intentions concerning the completion or results of the Asset Sale or Facility, its intention to file the proxy assertion to approve the Asset Sale and Facility, its expectation of creating distributions to stockholders and the timing thereof, and different statements that don’t relate solely to historic or present information. Forward-looking statements can usually be recognized by phrases resembling “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “target,” “will,” or comparable expressions.
Forward-looking statements are topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied, together with: the flexibility of the events to consummate the Asset Sale and Facility, satisfaction of closing circumstances precedent to the consummation of such transactions, potential delays in consummating such transactions, the flexibility of the Company to well timed put together and file the proxy assertion, the potential that the Company’s stockholders don’t approve the both or each of the transactions, potential litigation that will intrude with such transactions or trigger the Company to be unable to make the anticipated distribution to stockholders, the execution prices to the Company of such transactions, the influence of those prices and different liabilities on the Company’s money, property and different belongings, the quantity and timing of any distribution, and the extent of contingency reserves for prices and liabilities.
An additional dialogue of those and different elements that might trigger our precise outcomes and outcomes to vary materially from any outcomes, efficiency, or achievements anticipated, expressed, or implied by these forward-looking statements is included within the filings we make with the SEC, together with our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 and our Annual Report on Form 10-Ok for the yr ended December 31, 2025, and different experiences we could file with the SEC now and again. These forward-looking statements converse solely as of the date of this press launch, and we undertake no obligation to replace them besides as required by regulation. We could not truly obtain the plans, intentions or expectations disclosed in or expressed by, and you shouldn’t place undue reliance on our forward-looking statements.
