{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-164338","form_type":"8-K","ticker":"BIRD","cik":"0001653909","company_name":"Allbirds, Inc.","filed_at":"2026-04-20T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.674799+00:00","generated_at":"2026-05-15T05:20:09.646085+00:00","sec_items":["1.01","2.03","3.02","7.01","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Allbirds executes $50M convertible facility, plans pivot to AI compute infrastructure","bullets":["$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."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-164338","json":"https://secwatch.observer/filing/0001193125-26-164338.json","markdown":"https://secwatch.observer/filing/0001193125-26-164338.md","text":"https://secwatch.observer/filing/0001193125-26-164338.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/d34261d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T05:20:09.646085+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"41e02ba89d9aabcf4078aaed88a0923bc04025f2","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"lease obligation"},{"label":"Principal","value":"approximately $2.75 million"},{"label":"Counterparty","value":"a subsidiary of QumulusAI, Inc."},{"label":"Rate","value":"Not provided in excerpt"},{"label":"Maturity","value":"three-year lease agreement"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e0860669d9cfd9011f86436286689b5b55c3635f","claim":"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.","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"up to $50.0 million"},{"label":"Counterparty","value":"Institutional Investor"},{"label":"Rate","value":"12.0% per annum"},{"label":"Maturity","value":"second anniversary of the date of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"331a490c8888c3d7b442cbbe70c26b9af64c6afa","claim":"Allbirds, Inc. entered into a lease with a subsidiary of QumulusAI, Inc. valued at approximately $2.75 million.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"lease"},{"label":"Counterparty","value":"a subsidiary of QumulusAI, Inc."},{"label":"Value","value":"approximately $2.75 million"}],"fact_type":"material_agreement"},{"claim_id":"4edbadd93ac2d06ccd70b45a3cb36f3dbe00b9a4","claim":"Allbirds, Inc. amended A&R Purchase Agreement with an institutional investor (effective 2026-04-19).","evidence_excerpt":"On April 19, 2026, the Purchase Agreement was amended and restated (as so amended and restated, the “ A&R Purchase Agreement ”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"an institutional investor"},{"label":"Effective","value":"2026-04-19"}],"fact_type":"material_agreement"},{"claim_id":"d7a07c4b7755aa91042cc2720e4bee707709f483","claim":"Allbirds, Inc. entered into Securities Purchase Agreement with an institutional investor valued at up to $50.0 million (effective 2026-04-14).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"an institutional investor"},{"label":"Value","value":"up to $50.0 million"},{"label":"Effective","value":"2026-04-14"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}