Bird Global receives court approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., Jan. 25 – Bird Global, Inc. received approval of the bid procedures for its assets on Wednesday, according to an order filed with the U.S. Bankruptcy Court for the Southern District of Florida.

As a reminder, the company has entered into a comprehensive restructuring support agreement with its first- and second-lien lenders. The company has also entered into a stalking horse agreement with Bird Scooter Acquisition Corp., an entity of some of the existing lenders.

The stalking horse agreement is for a purchase price of $76.6 million via credit bid, which is subject to higher and better offers.

The bid deadline is 4 p.m. ET on Feb. 26, an auction is scheduled for Feb. 28, and a sale hearing is set for March 6.

The deadline to close the sale is March 21.

Bird Global is an electric bike rental company with headquarters in Miami. The company filed bankruptcy on Dec. 20 under Chapter 11 case number 23-20514.

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