Allbirds Flies High with Fresh Finances: A New Yorker’s Take

A Move to Shore Up Finances

Allbirds, the eco-savvy brand we all know and love, just unleashed some big news. They’re not just innovating with sustainable materials; they’re also sprucing up their financials. As of June 30th, they’re stepping up their game with fresh financing agreements set to beef up their long-term growth.

New Credit Lifeline

In need of cash? Don’t fret! Allbirds has got a new $75 million credit facility with Second Avenue Capital Partners. This is broken down into a $50 million portion and a $25 million accordion feature. This sweet deal matures in 2028 and swaps out an older $50 million credit setup.

Riding the Stock Market

Allbirds isn’t stopping at just loans. They’ve got a nifty sales agreement with TD Cowen, allowing them to sell up to $50 million in Class A common stock whenever they please through an At-the-Market (ATM) program.

Marching to a New Beat

These financial moves are part of a master plan to revitalize their products and marketing. Coming your way in mid-July, their fresh fall lineup boasts over 15 new styles crafted with modern design and unique materials. And yes, they promise that signature comfort we all crave.

In tandem, they’re rolling out a revamped marketing strategy. It’s all about long-term brand love, spearheaded by the Allbirds by Nature platform.

A Refreshing Customer Experience

What about that shopping experience? Allbirds isn’t forgetting you either. They’re rejuvenating storefronts and, come July, we’ll see a slick new website. Both online and offline, Allbirds is honing the customer journey for better engagement and sales.

Financial Muscle for Growth

CEO Joe Vernachio emphasizes strong financial footing as crucial to evolving their strategies. With $39.1 million in cash on the balance sheet as of March 31, 2025, Allbirds is poised for growth.

Annie Mitchell, CFO, echoes this sentiment. They’re working on a juiced-up financing package to support growth without losing focus on long-term profitability. “We are committed to building lasting value for our shareholders,” she says.

Who’s Got Their Back?

Research and advisory firms are part of this journey. TD Cowen is the exclusive financial advisor, also serving as a sales agent. Legal counsel includes Holland & Hart LLP and Allen Overy Shearman Sterling US LLP.

The Road Ahead

Remember, though: all of these big plans hinge on assumptions about the future. Not everything can be predicted, including economic fluctuations or market competition. But Allbirds remains nimble, ready to pivot as needed to stay ahead of the curve.

Allbirds in Brief

Founded in 2015, Allbirds is synonymous with eco-friendly footwear. Originating with the iconic Wool Runner, it’s now a symbol of comfort and sustainability. They’re all about shaking up the status quo, leaning into nature with materials like Merino wool and tree fiber.

For media inquiries: press@allbirds.com
Investor relations: ir@allbirds.com