Overview
- Allbirds, which announced the move Monday, signed a definitive agreement to sell its intellectual property and select assets to American Exchange Group for about $39 million, pending a shareholder vote.
- An independent committee of directors negotiated the deal, which then won unanimous approval from the board.
- The company canceled its fourth-quarter 2025 earnings call following the announcement and said it would file its 2025 annual report on March 31.
- If investors approve, the sale is expected to close in the second quarter, with net proceeds paid to shareholders in the third quarter as the company winds down operations.
- Shares jumped more than 30% after hours on the news, capping a years-long slide from a 2021 debut that briefly topped $4 billion as rapid store expansion, off-target product launches like see-through leggings, and mounting losses eroded the brand’s standing.