secwatch.observer — SEC 8-K summary
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Issuer:     Bird Global, Inc. (—)
CIK:        0001861449
Form:       8-K/A
Filed at:   2023-09-29T23:59:59+00:00
Accession:  0001861449-23-000204
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bird Global acquires Spin (Skinny Labs) for $19M; amends loan with MidCap for additional $6M
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- Acquired 100% of Spin for $19M: $10M cash, $6M secured vendor note, $3M hold-back ($1M cash + $2M stock).
- Amended MidCap loan adds $6M advance, extends maturity to July 12, 2025, secures Bird assets.
- Vendor note bears 8% interest, repayable in 3 installments due Oct 2023, Dec 2023, Apr 2024.
- Hold-back stock valued at 30-day VWAP; VTB note unsecured guaranteed by parent.
- Purchase price subject to post-closing working capital adjustments and indemnification obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861449/000186144923000204/0001861449-23-000204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861449/000186144923000204/brds-20230919.htm
  HTML page:      https://secwatch.observer/filing/0001861449-23-000204

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