Bird Receives NYSE Notice of Compliance with Listing Standard

Rhea-AI Summary

Bird Global, Inc. has received confirmation of compliance with NYSE's share price listing requirement. The company has submitted a business plan to bring it into compliance with other listing standards.

Positive

• Bird Global, Inc. has achieved compliance with NYSE's $1.00 share price listing requirement, which could positively impact the stock price.

Negative

• None.

MIAMI--(BUSINESS WIRE)-- Bird Global, Inc. (“Bird” or the “Company”) (NYSE: BRDS), a leader in environmentally friendly electric transportation, today announced that it has received confirmation from NYSE of Bird’s compliance with NYSE’s $1.00 share price listing requirement. In accordance with NYSE procedures, Bird has submitted a business plan advising NYSE of the actions the Company has taken, or anticipates taking, to bring it into compliance with NYSE’s market capitalization and stockholders’ equity listing standards.

Pending NYSE’s acceptance of the plan, the Company’s Class A common stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing standards.

About Bird

Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird’s cleaner, affordable, and on-demand mobility solutions are available in more than 350 cities, primarily across the United States, Canada, Europe, the Middle East, and Australia. We take a collaborative, community-first approach to micromobility. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.

Forward-Looking Statements

This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts may be forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding the timing of the effectiveness of the reverse stock split and our ability to attract new investors. We have based these forward-looking statements largely on our current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our ability to meet the continued listing requirements of the New York Stock Exchange; risks related to our relatively short operating history and our new and evolving business model, which makes it difficult to evaluate our future prospects, forecast financial results, and assess the risks and challenges we may face; our ability to achieve or maintain profitability in the future; our ability to retain existing riders or add new riders; our Fleet Managers’ ability to maintain vehicle quality or service levels; our ability to evaluate our business and prospects in the new and rapidly changing industry in which we operate; risks related to the impact of poor weather and seasonality on our business; our ability to obtain vehicles that meet our quality specifications in sufficient quantities on commercially reasonable terms; our ability to compete successfully in the highly competitive industries in which we operate; risks related to our substantial indebtedness; our ability to secure additional financing; risks related to the effective operation of mobile operating systems, networks and standards that we do not control; risks related to action by governmental authorities to restrict access to our products and services in their localities; risks related to claims, lawsuits, arbitration proceedings, government investigations and other proceedings to which we are regularly subject; risks related to compliance, market and other risks, including the ongoing conflict between Ukraine and Russia, in relation to any expansion by us into international markets; any continuing impact of the COVID-19 pandemic on our business, financial condition, and results of operations; risks related to the impact of impairment of our long-lived assets and the other important factors described in our filings with the Securities and Exchange Commission (“SEC”) from time to time, including those described in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022, our subsequent Quarterly Report on Form 10-Q and Current Reports on Form 8-K filed with the SEC. The forward-looking statements in this press release are based upon information available to us as of the date of this press release and while we believe such information forms a reasonable basis for such statements, these statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

Source: Bird Global, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230717539578/en/

Investor Contact

Investor@bird.co

Media Contact

Press@bird.co

Source: Bird Global, Inc.

FAQ

What is the news about Bird Global, Inc.?

Bird Global, Inc. has received confirmation of compliance with NYSE's share price listing requirement.

What does compliance with NYSE's share price listing requirement mean?

Compliance with NYSE's share price listing requirement means that Bird Global, Inc. has met the minimum share price required for listing on the NYSE.

What is Bird Global, Inc.'s plan to bring it into compliance with other listing standards?

Bird Global, Inc. has submitted a business plan to NYSE outlining the actions it has taken or anticipates taking to meet NYSE's market capitalization and stockholders' equity listing standards.