Apparel Brand Allbirds Prices US$303 Million IPO

Footwear and apparel brand Allbirds, Inc. (Nasdaq: BIRD) started trading on the Nasdaq Global Select Market today while also announcing pricing for their IPO. The firm aims to raise US$302.9 million in its debut on the big board.

The offering consisted of 20,192,307 Class A common shares at US$15.00 per share. Out of this, 16,346,154 shares will be sold by the company while the remaining 3,846,153 shares will be sold by existing stockholders. The company’s shares will be trading on the Nasdaq exchange under the ticker symbol “BIRD”.

Morgan Stanley, J.P. Morgan, and BofA Securities are acting as the lead bookrunners for the said offering. The offering is expected to close on November 5, 2021, subject to customary closing conditions.

The California-headquartered lifestyle brand has New Zealand roots in the material it uses for its apparel, merino wool.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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