Allbirds (BIRD) IPO Opens 41% Higher

Today's IPO for Allbirds, Inc (NASDAQ: BIRD) opened for trading at $21.21 after pricing 20,192,307 shares of its Class A common stock at a price to the public of $15.00 per share, above the expected $12-$14 range. The size of the offering was also raised from 19,230,768 shares.

16,346,154 shares were sold by Allbirds and 3,846,153 shares were sold by certain of Allbirds’ existing stockholders.

Morgan Stanley, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. Baird, William Blair, Piper Sandler, Cowen, Guggenheim Securities, KeyBanc Capital Markets, Stifel, Telsey Advisory Group, C.L. King & Associates, Drexel Hamilton, Loop Capital Markets, Penserra Securities LLC, Ramirez & Co., Inc., and Siebert Williams Shank are acting as co-managers for the offering.

Allbirds grew net revenue from $126.0 million in 2018 to $219.3 million in 2020, representing a compound annual growth rate, or CAGR, of 31.9%.

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