Bird Announces Purchases of Shares by Management and Directors
March 27 2023 - 08:00AM
Business Wire
Bird Global, Inc. (NYSE: BRDS, “Bird”), a leader in
environmentally friendly electric transportation, today announced
completed purchases of BRDS Class A common stock on the open market
by certain officers and directors: Chief Executive Officer Shane
Torchiana, Chief Financial Officer Michael Washinushi, and Chairman
and Founder Travis VanderZanden, totaling over 1.5 million shares
purchased.
“Our recent share purchases reflect our ongoing confidence in
Bird’s future and our ability to increase long-term shareholder
value,” said Shane Torchiana, CEO, Bird. “We believe there
is a massive opportunity in front of us as we continue to offer
cleaner, equitable transportation alternatives, which is why we
recently issued guidance that we expect to achieve $5 to $10
million in free cash flow and $15 to $20 million in positive
adjusted EBITDA. We are optimistic about our growth prospects while
remaining laser focused on reaching positive cash flow and
profitability.”
About Bird
Bird is an electric vehicle company dedicated to bringing
affordable, environmentally friendly transportation solutions such
as e-scooters and e-bikes to communities across the world. Founded
in 2017 by transportation pioneer Travis VanderZanden, Bird’s
cleaner, affordable, and on-demand mobility solutions are available
in more than 350 cities, primarily across the United States,
Canada, Europe, the Middle East, and Australia. We take a
collaborative, community-first approach to micromobility. Bird
partners closely with the cities in which it operates to provide a
reliable and affordable transportation option for people who live
and work there.
Forward-Looking Statements
This press release contains forward-looking statements. We
intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical facts may be
forward-looking statements. Such forward-looking statements
include, but are not limited to, statements regarding the expected
benefits of the transaction; our intention to close on additional
funding this quarter; our path to profitability and our future
financial performance, operations, operating results and financial
condition. We have based these forward-looking statements largely
on our current expectations. These forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, our
ability to cure our New York Stock Exchange (“NYSE”) price
deficiency and meet the continued listing requirements of the NYSE;
risks related to our relatively short operating history and our new
and evolving business model, which makes it difficult to evaluate
our future prospects, forecast financial results, and assess the
risks and challenges we may face; our ability to achieve or
maintain profitability in the future; our ability to retain
existing riders or add new riders; our Fleet Managers’ ability to
maintain vehicle quality or service levels; our ability to evaluate
our business and prospects in the new and rapidly changing industry
in which we operate; risks related to the impact of poor weather
and seasonality on our business; our ability to obtain vehicles
that meet our quality specifications in sufficient quantities on
commercially reasonable terms; our ability to compete successfully
in the highly competitive industries in which we operate; risks
related to our substantial indebtedness; our ability to secure
additional financing; risks related to the effective operation of
mobile operating systems, networks and standards that we do not
control; risks related to action by governmental authorities to
restrict access to our products and services in their localities;
risks related to claims, lawsuits, arbitration proceedings,
government investigations and other proceedings to which we are
regularly subject; risks related to compliance, market and other
risks, including the ongoing conflict between Ukraine and Russia,
in relation to any expansion by us into international markets; any
continuing impact of the COVID-19 pandemic on our business,
financial condition, and results of operations; risks related to
the impact of impairment of our long-lived assets and the other
important factors discussed in Part I, Item 1A. “Risk Factors” in
our Annual Report on Form 10-K for the year ended December 31, 2022
, and described from time to time in our future reports filed with
the Securities and Exchange Commission. The forward-looking
statements in this press release are based upon information
available to us as of the date of this press release and while we
believe such information forms a reasonable basis for such
statements, these statements are inherently uncertain and you are
cautioned not to unduly rely upon these statements. Except as
required by applicable law, we do not plan to publicly update or
revise any forward-looking statements contained in this press
release, whether as a result of any new information, future events
or otherwise.
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