---
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"
generated_at: "2026-05-15T05:20:09.646085+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Allbirds executes $50M convertible facility, plans pivot to AI compute infrastructure

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-164338
- JSON: https://secwatch.observer/filing/0001193125-26-164338.json
- Plain text: https://secwatch.observer/filing/0001193125-26-164338.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm
- Material Agreements
  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
  source text: On April 19, 2026, the Purchase Agreement was amended and restated (as so amended and restated, the “ A&R Purchase Agreement ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1653909/000119312526164338/0001193125-26-164338-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.