Bird Global, Inc.: M&A transaction — Bird Global acquires Spin (Skinny Labs) for $19M; amends loan with MidCap for additional $6M

2023, (the “Closing Date”). The aggregate consideration paid, or that will be paid, by the Company and Bird Rides for the transactions contemplated by the Purchase Agreement is $19 million (the “Purchase Price”), which is comprised of (a) $10 million in cash, (b) $6 million in the form of a secured vendor take-back promissory note (the “VTB Consideration”), and (c)

On September 19, 2023, Bird Global, Inc. (the “Company”) announced the acquisition by its wholly-owned subsidiary Bird Rides, Inc., a Delaware corporation (“Bird Rides”) of 100% of the stock of Skinny Labs, Inc. d/b/a Spin, a Delaware corporation (“Spin”), from Tier Mobility SE, a company incorporated in Germany with registered number HRB 236551 B (“Seller”) (the “Acquisition”), pursuant to the terms and conditions of that certain stock purchase agreement (the “Purchase Agreement”), entered into by and among the Company, Bird Rides, Seller and Spin on September 19, 2023, (the “Closing Date”). The aggregate consideration paid, or that will be paid, by the Company and Bird Rides for the transactions contemplated by the Purchase Agreement is $19 million (the “Purchase Price”)

On the Closing Date, the Company, as parent, Bird Rides, as borrower, and certain other subsidiaries of the Company, as guarantors, entered into that certain Amended and Restated Loan Agreement (the “Loan Agreement”) with MidCap Financial Trust, as administrative agent (the “Administrative Agent”), and the lenders party thereto (the “Lenders”), to amend and restate, in its entirety, that certain Loan and Security Agreement, dated as of April 27, 2021

On the Closing Date, pursuant to the Purchase Agreement and in satisfaction of the VTB Consideration, Bird Rides issued to Seller a secured promissory note in the principal amount of $6 million (the “Note”).