Allbirds has set May 18 as the date for a special meeting of shareholders to approve the sale of the footwear brand and assets to American Exchange Group, according to proxy materials sent to shareholders. Pending approval, the asset sale is expected to close within Q2, and a special dividend will be issued in Q3 to shareholders of record as of May 20.

The remaining public shell company is planning on a name change to NewBird AI and has executed a definitive agreement for a $50 million convertible financing facility with an ... Log in to view full article.