Allbirds, Inc. (BIRD): debt financing — Allbirds executes $50M convertible facility, plans pivot to AI compute infrastructure

Allbirds, Inc.

$50M convertible financing facility with institutional investor; initial $3.25M close, up to $44.75M additional tranches.
Convertible notes bear 12% interest, 5% OID, convertible at 120% of lower of two closing bid prices.
First transaction: $2.75M three-year GPU lease with QumulusAI subsidiary for NVIDIA Blackwell GPUs.
Company to sell Allbirds brand & footwear assets to American Exchange Group; intends to rename to NewBird AI.
Special dividend planned for Q3 2026 to holders of record May 20, 2026, subject to stockholder approval of asset sale.

item 1.01 item 2.03 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Allbirds, Inc. incurred lease obligation of approximately $2.75 million with a subsidiary of QumulusAI, Inc. at Not provided in excerpt maturing three-year lease agreement.

Instrument: lease obligation
Principal: approximately $2.75 million
Counterparty: a subsidiary of QumulusAI, Inc.
Rate: Not provided in excerpt
Maturity: three-year lease agreement
Event: incurrence

Exact text from the filing

Simultaneously, the Lessor entered into an approximately $2.75 million, three-year lease agreement with a subsidiary of QumulusAI, Inc. (the “Lessee”) for the Purchased GPU Assets, with an end-of-term purchase option provided to the Lessee.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Allbirds, Inc. incurred convertible notes of up to $50.0 million with Institutional Investor at 12.0% per annum maturing second anniversary of the date of issuance.

Instrument: convertible notes
Principal: up to $50.0 million
Counterparty: Institutional Investor
Rate: 12.0% per annum
Maturity: second anniversary of the date of issuance
Event: incurrence

Exact text from the filing

As previously disclosed, on April 14, 2026, Allbirds, Inc., a Delaware public benefit corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with an institutional investor (the “ Investor ”), pursuant to which the Company agreed to issue and sell to the Investor senior secured convertible notes in an aggregate original principal amount of up to $50.0 million (the “ Convertible Notes ”), convertible into shares of the Company’s Class A common stock (the “ Facility ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allbirds, Inc. entered into a lease with a subsidiary of QumulusAI, Inc. valued at approximately $2.75 million.

Action: entry
Agreement: lease
Counterparty: a subsidiary of QumulusAI, Inc.
Value: approximately $2.75 million

Exact text from the filing

the Lessor entered into an approximately $2.75 million, three-year lease agreement with a subsidiary of QumulusAI, Inc. (the “Lessee”) for the Purchased GPU Assets, with an end-of-term purchase option provided to the Lessee

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allbirds, Inc. amended A&R Purchase Agreement with an institutional investor (effective 2026-04-19).

Action: amendment
Agreement: equity purchase
Counterparty: an institutional investor
Effective: 2026-04-19

Exact text from the filing

On April 19, 2026, the Purchase Agreement was amended and restated (as so amended and restated, the “ A&R Purchase Agreement ”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allbirds, Inc. entered into Securities Purchase Agreement with an institutional investor valued at up to $50.0 million (effective 2026-04-14).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: up to $50.0 million
Effective: 2026-04-14

Exact text from the filing

on April 14, 2026, Allbirds, Inc., a Delaware public benefit corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with an institutional investor (the “ Investor ”), pursuant to which the Company agreed to issue and sell to the Investor senior secured convertible notes in an aggregate original principal amount of up to $50.0 million

View on SEC.gov

114 debt financings filed in the last 30 days. Browse all debt financings →

Allbirds, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-164338

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.