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Allbirds to Sell Assets for $39 Million, Will Dissolve

3/31/2026

39 3 Full Breakdown

Summary

Story summary

Allbirds, Inc. will sell its assets and intellectual property to American Exchange Group for $39 million.
The board approved the deal, which requires shareholder consent, with a Q2 2026 closing.
Allbirds will dissolve after closing and distribute proceeds to shareholders by late 2026.
It posted a 23.3% revenue drop in Q3 2025, prompting U.S. store closures and a shift to e-commerce.
CEO Joe Vernachio expressed hope for AXNY's management.

History

Historical Context

Founded in 2015 by Tim Brown and Joey Zwillinger, Allbirds gained popularity for its sustainable footwear, particularly among tech workers. However, after going public in 2021, the company faced declining sales and a 23.3% revenue drop in Q3 2025. The sale of its assets for $39 million to American Exchange Group highlights the challenges sustainable brands face in adapting to shifting consumer preferences.

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Story summary

Allbirds, Inc. will sell its assets and intellectual property to American Exchange Group for $39 million.
The board approved the deal, which requires shareholder consent, with a Q2 2026 closing.
Allbirds will dissolve after closing and distribute proceeds to shareholders by late 2026.
It posted a 23.3% revenue drop in Q3 2025, prompting U.S. store closures and a shift to e-commerce.
CEO Joe Vernachio expressed hope for AXNY's management.

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