Allbirds soars on $39 million deal

Allbirds

31/03/2026 11:16

** Shares of shoemaker Allbirds Inc BIRD.O surge 18.8% to $3.54 premarket

** American Exchange Group on Monday agreed to buy BIRD for $39 million

** Transaction expected to close in second quarter, with distribution of net proceeds to shareholders anticipated in following quarter after accounting for wind-down expenses

** BIRD to file a proxy statement by April 24 to seek shareholder approval for the asset sale and subsequent dissolution

** Stock has plunged about 27.3% this year through last close, compared with the Nasdaq's .IXIC 10.5% fall

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))