Allbirds, Inc. (NASDAQ: BIRD) has announced a definitive agreement with American Exchange Group (AXNY) for the acquisition of its intellectual property and certain other assets for an estimated transaction value of $39 million. This agreement, finalized on March 29, 2026, is subject to customary closing conditions and requires approval from Allbirds' stockholders. The transaction is expected to close in the second quarter of 2026, with a distribution of net proceeds anticipated for the third quarter of 2026. The deal was negotiated by a special committee of independent directors and received unanimous approval from Allbirds' Board of Directors. CEO Joe Vernachio expressed gratitude for the team's efforts in building the Allbirds brand and emphasized that this partnership with AXNY positions the brand for future growth. The company will not hold its scheduled earnings call on March 31, 2026, due to this announcement, and intends to file its Annual Report on Form 10-K with the SEC on the same day. The agreement includes provisions for a transition services agreement to ensure a smooth handover of operations post-closing. Allbirds is also preparing a proxy statement to seek stockholder approval for the asset sale and subsequent dissolution of the company, which is part of its strategy to streamline operations and focus on core business areas.

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