Allbirds Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Allbirds, a global lifestyle brand known for its innovative use of naturally derived materials, has successfully closed its initial public offering. The offering comprised 23,221,152 shares of Class A common stock at $15.00 each, with the underwriters fully exercising their option to purchase an additional 3,028,845 shares. A total of 16,850,799 shares were sold by Allbirds, while existing stockholders sold 6,370,353 shares. The company began trading on Nasdaq under the ticker symbol 'BIRD' on November 3, 2021.
- Successful IPO raising funds to enhance market presence.
- Innovative focus on sustainable materials could attract environmentally-conscious consumers.
- Potential for shareholder dilution due to sale of shares by existing stockholders.
SAN FRANCISCO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Allbirds, Inc., a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, today announced the closing of its initial public offering of 23,221,152 shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 3,028,845 shares of Class A common stock, at a price to the public of
Morgan Stanley, J.P. Morgan, and BofA Securities acted 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 acted as co-managers for the offering.
Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission and became effective on November 2, 2021. Copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; and BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255, or by email at dg.prospectus_requests@bofa.com.
About Allbirds
Headquartered in San Francisco, Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on the planet. Allbirds’ story began with superfine New Zealand merino wool and has since evolved to include a eucalyptus tree fiber knit fabric and a sugarcane-based EVA foam (SweetFoam®). Allbirds serves customers across 35 countries through 35 stores and its eCommerce website.
Media:
Investors:
FAQ
What was the initial public offering price for Allbirds stock (BIRD)?
When did Allbirds begin trading on the Nasdaq under ticker BIRD?
How many shares were included in Allbirds' IPO?
Who were the lead underwriters for the Allbirds IPO?
What will Allbirds use the funds from the IPO for?
