Bird Receives NYSE Notice of Compliance with Listing Standard
July 17 2023 - 04:05PM
Business Wire
Bird Global, Inc. (“Bird” or the “Company”) (NYSE: BRDS), a
leader in environmentally friendly electric transportation, today
announced that it has received confirmation from NYSE of Bird’s
compliance with NYSE’s $1.00 share price listing requirement. In
accordance with NYSE procedures, Bird has submitted a business plan
advising NYSE of the actions the Company has taken, or anticipates
taking, to bring it into compliance with NYSE’s market
capitalization and stockholders’ equity listing standards.
Pending NYSE’s acceptance of the plan, the Company’s Class A
common stock will continue to be listed and trade on the NYSE
during this period, subject to the Company’s compliance with other
NYSE continued listing standards.
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 timing of
the effectiveness of the reverse stock split and our ability to
attract new investors. 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 meet the continued listing requirements
of the New York Stock Exchange; 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 described in our
filings with the Securities and Exchange Commission (“SEC”) from
time to time, including those described in Part I, Item 1A. “Risk
Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2022, our subsequent Quarterly Report on Form 10-Q and
Current Reports on Form 8-K filed with the SEC. 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.
Source: Bird Global, Inc.
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