Allbirds to be bought by American Exchange for $39 million
American Exchange Group has agreed to buy all of the assets and intellectual property of once-buzzy footwear brand Allbirds Inc. for $39 million.
Shares of Allbirds soared 36% on the news in after-hours trading in New York.
The shoemaker said the deal, which is expected to close in the second quarter, still needs shareholder approval. A distribution of net proceeds to stockholders is expected in the third quarter.
