Allbirds Sells Assets to AXNY for $39 Million

(NASDAQ: BIRD) entered a definitive agreement to sell all intellectual property and certain other assets and liabilities to American Exchange Group (AXNY) for an estimated $39 million, leading to the company's proposed dissolution and winding down. The Asset Sale was negotiated by a special committee of independent directors and received unanimous approval from Allbirds’ Board of Directors, pending common stockholder approval.

A proxy statement detailing the transaction and seeking stockholder approval for the Asset Sale and subsequent dissolution is expected by April 24, 2026. The transaction is anticipated to close in the second quarter of 2026, with net proceeds distributed to stockholders in the third quarter of 2026, after accounting for wind-down expenses.

Allbirds CEO Joe Vernachio stated this "next chapter with AXNY builds on the foundational work already completed and sets up the brand to thrive." As a direct result of this announcement, Allbirds canceled its Fourth Quarter and Full Year 2025 earnings call, though it intends to file its Annual Report on Form 10-K on March 31, 2026.