Bird global announces proposed merger with profitable partner bird canada

Miami--( business wire )--bird global, inc. (nyse:brds, “bird”), a leader in environmentally friendly electric transportation, today announced that it is pursuing a merger with bird's original and most successful platform partner, bird canada inc. (“bird canada”), along with an estimated total of $32 million in new financing, $4 million of which has already been funded. the proposed financing and merger (the “proposed transaction”) is expected to include an offering of convertible secured promissory notes (the “notes”) issued to obelysk; mackinnon, bennett & company (mkb); and relay ventures, owners of bird canada. pursuant to the proposed transaction, bird would combine with bird canada with the shareholders of bird canada primarily receiving as consideration an expected $32 million in notes. the merger would add additional profitable operations to bird's global platform, while consolidating north american operations. the proposed transaction is expected to close as soon as possible, subject to the completion and execution of definitive documentation and other customary closing conditions.
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