Allbirds pivots to GPU infrastructure; sells footwear business, secures $50M convertible note facility

Allbirds, Inc.

Enters A&R Securities Purchase Agreement for up to $50M senior secured convertible notes at 12% interest, 5% OID.
Initial tranche of $5.25M; proceeds to fund purchase of NVIDIA Blackwell GPUs via subsidiary for compute leasing.
Subsidiary enters $2.75M, 3-year GPU lease with QumulusAI, marking first step into compute infrastructure.
Asset Purchase Agreement to sell footwear business to American Exchange Group; proceeds used to repay existing credit line.
Special meeting of stockholders scheduled May 18, 2026 to vote on Nasdaq approval for >19.99% share issuance.

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.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.4

Allbirds, Inc. issued convertible note to an institutional investor for an aggregate original principal amount of up to $50.0 million.

Security: convertible note
Purchaser: an institutional investor
Consideration: an aggregate original principal amount of up to $50.0 million

Exact text from the filing

(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 ”). The proceeds of the Facility are anticipated to be used primarily

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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, three-year.

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

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.

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

Allbirds, Inc. entered into A&R Purchase Agreement with an institutional investor valued at up to $50.0 million (effective 2026-04-19).

Action: entry
Agreement: credit facility
Counterparty: an institutional investor
Value: up to $50.0 million
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 ”).

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42 equity issuances filed in the last 30 days. Browse all equity issuances →

Allbirds, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-174460

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