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Stock impact report

Allbirds is selling for $39 million. It raised nearly 10 times that amount in its IPO. [TechCrunch]

Allbirds, Inc. (BIRD) 
Company Research Source: TechCrunch
intellectual property to American Exchange Group for $39 million — which is roughly one-tenth of the $348 million it raised in its 2021 IPO and a fraction of the more than $4 billion valuation it briefly commanded on its first day of trading. The deal still needs shareholder approval and is expected to close in the second quarter, with proceeds distributed to stockholders sometime in the third quarter. Shares jumped 36% on the news in after-hours trading. The stock had closed Monday at $2.98, giving the company a market cap of $24.5 million — meaning the $39 million sale price actually represented a premium to where shares were already trading. The brand's collapse has been well-documented. After going public, Allbirds expanded aggressively into physical retail and adjacent product categories — leggings, jackets, performance running shoes — that didn't connect with its core customers. Losses stacked up a a result; co-founder Tim Brown later admitted the rapid growth had cost the c Show less Read more
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