Five hard lessons from Allbirds’ 99% stock plunge and $39 million fire sale

TL;DR

American Exchange Group plans to acquire the assets of Allbirds, the struggling shoe brand, in a $39 million deal. The sale, negotiated by a special committee of independent directors, is subject to approval by the brand’s shareholders. The deal, which could see price adjustments before closing, is expected to be finalized in the second quarter of 2026 and will include a winding down of the public company.