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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
On April 16, Allbirds executed a $50 million convertible financing facility agreement with an institutional investor. The company plans to sell its footwear brand to American Exchange Group and pivot to becoming a GPU-as-a-Service (GPUaaS) provider. It anticipates changing its name to 'NewBird AI' in connection with this business pivot.