---
schema_version: "secwatch.filing_event.v1"
accession: "0001589526-23-000117"
form_type: "8-K"
ticker: "BLBD"
cik: "0001589526"
company_name: "Blue Bird Corp"
filed_at: "2023-12-07T23:59:59+00:00"
generated_at: "2026-06-07T16:10:29.945880+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Blue Bird forms JV with Generate Capital for electric school bus fleet-as-a-service

## Summary
- Clean Bus Solutions JV; Blue Bird and Generate each contribute up to $10M common equity, plus $20M and $80M preferred respectively.
- Generate receives warrants for 1M shares at $25.00; two-thirds immediately exercisable, five-year term.
- JV provides turnkey electrification: buses, charging, financing, and maintenance for school districts at monthly fee.
- Blue Bird commits to promote JV as preferred fleet-as-service offering; excludes similar JVs but allows OEM sales.

## SEC filing metadata
- accession: 0001589526-23-000117
- form_type: 8-K
- ticker: BLBD
- cik: 0001589526
- company_name: Blue Bird Corp
- filed_at: 2023-12-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589526/000158952623000117/0001589526-23-000117-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589526/000158952623000117/blbd-20231207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001589526-23-000117
- JSON: https://secwatch.observer/filing/0001589526-23-000117.json
- Plain text: https://secwatch.observer/filing/0001589526-23-000117.txt

## Key facts
- Material Agreements
  Blue Bird Corp entered into Joint Venture Agreement with GC Mobility Investments I, LLC, a wholly owned subsidiary of Generate Capital, PBC valued at $10 million (effective 2023-12-07).
  - Action: entry
  - Agreement: collaboration
  - Counterparty: GC Mobility Investments I, LLC, a wholly owned subsidiary of Generate Capital, PBC
  - Value: $10 million
  - Effective: 2023-12-07
  source text: On December 7, 2023, Blue Bird Corporation (the “Company”) announced that the Company, through its wholly owned subsidiary, Blue Bird Body Company, and GC Mobility Investments I, LLC, a wholly owned subsidiary of Generate Capital, PBC (“Generate Capital”), a sustainable investment company focusing on clean energy, transportation, water, waste, agriculture, smart cities and industrial decarbonization, have executed a definitive agreement (the “Joint Venture Agreement”) establishing a joint venture named Clean Bus Solutions, LLC to provide a fleet electrification-as-a-service offering using electric school buses (the “Joint Venture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589526/000158952623000117/0001589526-23-000117-index.htm

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