Bird Global implements 1-for-25 reverse stock split to regain NYSE compliance

Bird Global, Inc.

Reverse stock split of 1-for-25 approved by stockholders and Board, effective 5/18/2023.
Trading on NYSE will continue under BRDS symbol on split-adjusted basis starting 5/19/2023.
Outstanding shares reduced to ~11.47M Class A and ~1.38M Class X post-split.
Public warrants adjusted: exercise price becomes $287.50 per share for 1/25 share per warrant.
CEO says reverse split expands investor attraction as Bird targets cash generation in 2023.

item 3.03 item 5.03 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Bird Global, Inc.: Filed Certificate of Amendment to effect a 1-for-25 reverse stock split and reduce authorized shares proportionally (effective 2023-05-18).

Change: charter amendment
Effective: 2023-05-18

Exact text from the filing

On May 18, 2023, the Board approved the reverse stock split at a ratio of one-for-twenty-five and the Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware to effect the reverse stock split.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bird Global, Inc. shareholders approved To approve granting the Board the authority to exercise its discretion to amend the Certificate of Incorporation to effect a reverse stock split of the outstanding shares of Class A Common Stock and Class X Common Stock to regain compliance with the New York Stock Exchange’s $1.00 price requirement, at the 2023-05-18 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

The stockholders approved the reverse stock split ratio of one-for-twenty-five by the following vote: FOR 765,298,841 AGAINST 6,515,972 ABSTAIN 230,003 BROKER NON-VOTES —

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bird Global, Inc. shareholders approved To approve granting the Board the authority to exercise its discretion at any time within one year after stockholder approval is obtained to amend the Certificate of Incorporation to reduce the number of authorized shares of our capital stock, Class A Common Stock, Class B Common Stock, Class X Comm at the 2023-05-18 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-05-18

Exact text from the filing

FOR 767,392,200 AGAINST 4,464,489 ABSTAIN 188,127 BROKER NON-VOTES —

View on SEC.gov

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Source: SEC EDGAR

accession 0001861449-23-000132

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