Micromobility company Bird announced Wednesday it plans to go public on the New York Stock Exchange. It will merge with Switchback II, a special purpose acquisition company (SPAC) in a transaction expected to value the company at $2.3 billion.
In a blog post announcing the SPAC, Bird CEO and Founder Travis VanderZanden said it is a “significant step on our journey to provide the world with safe, eco-friendly transportation.” He said the merger with Switchback II will help accelerate that mission, and he pledged to offer more diverse vehicle types to help take into account the variety of trips people take in cities.
A Bird spokesperson said in an email the transaction is expected to close in the second half of 2021. It is the second micromobility company to announce it plans to go public this year, following Helbiz’s announcement of a SPAC in February.