Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, September 10, 2021

Article Excerpt

ALLBIRDS INC. has filed paperwork with U.S. regulators for an initial public offering (IPO) of common shares. The shares will trade on Nasdaq under the symbol BIRD. Allbirds is a global “lifestyle” brand that aims to make more sustainable footwear and apparel products made without synthetic petroleum-based fibres like polyester. The company was founded in May 2015. The San Francisco-based startup, known for its ecologically friendly sneakers, has seen its shoes grow in popularity over the last few years among people working in the tech industry. Allbirds had 27 stores as of June 30, 2021, including in New York City, Shanghai and Berlin. In August 2019, Allbirds expanded into socks—its first venture beyond footwear. In October 2020, it launched four-item clothing line, including a shirt made out of discarded crab shell and a wool puffer-jacket designed from New Zealand-sourced merino wool. It has also been expanding its footwear selection to include a running sneaker, high-tops and women’s flats. Allbirds’ IPO filing comes just weeks…

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