Bird Global, Inc.: going-concern / distress — Bird Global files for Chapter 11 bankruptcy; obtains $25.1M DIP financing

Bird Global, Inc.

Filed Chapter 11 on Dec 20, 2023, with Bird Rides, Spin, and other subsidiaries in S.D. Florida.
Obtained $25.1M DIP financing: $19.5M senior loan from MidCap and $5.6M junior notes at 18% PIK interest.
RSA signed with first-lien and second-lien creditors; stalking horse APA may lead to asset sale.
Company warns equity holders face significant or complete loss; trading is highly speculative.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Bird Global, Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of Florida (petition 2023-12-20).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Southern District of Florida
Petition: 2023-12-20

Exact text from the filing

On December 20, 2023 (the “Petition Date”), Bird Global, Inc. (“Bird” or the “Company”) and certain of its direct and indirect subsidiaries including Bird Rides, Inc., Bird Holdco, LLC, Bird Opco, LLC, and Skinny Labs, Inc. (dba Spin) (together with the Company, the “Debtors”) filed voluntary petitions to commence proceedings under chapter 11 (the “Chapter 11 Cases”) of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Florida (the “Bankruptcy Court”).

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Source: SEC EDGAR

accession 0001861449-23-000220

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