secwatch.observer — SEC 8-K summary
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Issuer:     Bird Global, Inc. (—)
CIK:        0001861449
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0001861449-23-000002
Event type: m_and_a
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 5.02, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bird Global closes Bird Canada buy, $57M convertible notes; appoints CFO/President; investors gain board control
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- Acquired remaining 100% of Bird Canada for $27M in 12% convertible notes, 18.2M shares, and nominal cash.
- Issued $30M in 12% convertible senior secured notes due 2027; conversion price ~$0.2879/share; proceeds repay $4M sub loan.
- Amended Apollo loan: maturity extended to Jan 2025, monthly amortization changed, liens released on certain assets.
- Appointed Michael Washinushi as CFO, Stewart Lyons as President (from Bird Canada); three new directors including John Bitove.
- Created Series A Preferred Stock giving holder right to nominate five directors and elect them alone; voting agreement ties board size to note conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861449/000186144923000002/0001861449-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861449/000186144923000002/brds-20221229.htm
  HTML page:      https://secwatch.observer/filing/0001861449-23-000002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer