American Exchange Group to buy sneaker maker Allbirds for $39 million

VoM News Desk | March 31, 2026 | 06:48 AM IST | Breaking News, Business | Follow on Google News

American Exchange Group to buy sneaker maker Allbirds for $39 million

Allbirds plans to file ​a proxy statement by April 24 ​seeking shareholder approval for the asset ⁠sale and the subsequent dissolution ​and wind-down of the company, the ​shoemaker said.

Shares of Allbirds rose about 32% to $3.92 in extended trading.

The transaction is expected to ​close in the second quarter ​of 2026, with the distribution of net proceeds ‌after ⁠taking into account wind-down expenses, to shareholders anticipated in the third quarter.

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“This next chapter with AXNY builds on ​the foundational ​work ⁠already completed and sets up the brand to thrive ​in the years ahead,” Allbirds ​CEO ⁠Joe Vernachio said in a statement.

TD Cowen is acting as financial adviser and ⁠Holland & ​Hart LLP is ​serving as legal counsel to Allbirds.

VoM News Desk

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