Allbirds secures $50 million convertible financing for AI pivot
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Allbirds, Inc. Executes $50M Convertible Financing Facility Agreement; Announces Expansion into AI Compute Infrastructure
April 15, 2026 8:01 AM EDTSAN FRANCISCO, April 15, 2026 (GLOBE NEWSWIRE) -- Following its prior announcement that it has entered into a definitive agreement to sell the Allbirds brand and footwear assets to American Exchange Group, which intends to continue to build on Allbirds legacy and deliver compelling products to Allbirds customers (the Asset Sale), Allbirds, Inc. (Nasdaq: BIRD) (the "Company") today announced the execution of a definitive agreement with an institutional investor for a $50 million convertible financing facility (the Facility). The Facility, which is expected to close during the second quarter of 2026, will enable the Company to pivot its... More
