Allbirds signs $39M asset deal with American Exchange Group

Allbirds, Inc announced that it has entered into a definitive agreement with American Exchange Group (‘AXNY’), a leader in accessories design, licensing and manufacturing, under which AXNY will acquire all of the intellectual property and certain other assets and liabilities of Allbirds for an estimated transaction value of $39 million (the ‘Asset Sale’), subject to purchase price adjustments to be finalised upon closing.

The Asset Sale was negotiated by a special committee of independent directors, received unanimous approval by Allbirds’ Board of Directors, and is subject to approval by Allbirds’ common stockholders.

Allbirds has entered a definitive agreement to sell its intellectual property and select assets to American Exchange Group for an estimated $39 million, subject to shareholder approval.
The transaction is expected to close in the second quarter of 2026, after which the company plans to dissolve and distribute remaining net proceeds to shareholders in the third quarter, following wind-down costs.

A proxy statement describing the transaction and seeking stockholder approval of the Asset Sale and subsequent dissolution and winding down of the Company (the ‘Dissolution’), is expected to be filed no later than April 24, 2026.

The transaction is expected to close in the second quarter of 2026 and a distribution to stockholders of net proceeds, taking into account wind-down expenses, is anticipated to be made in the third quarter of 2026.

Joe Vernachio, CEO of Allbirds, stated, “We are incredibly thankful to our teams for the work they have been doing to fuel our product engine, build awareness of Allbirds and deliver an engaging customer experience. Over the past decade, Allbirds has evolved into a lifestyle footwear brand known for modern design, innovative materials and unparalleled comfort. This next chapter with AXNY builds on the foundational work already completed and sets up the brand to thrive in the years ahead.”