Allbirds, which makes and sells sustainable footwear, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Allbirds states that it is a global lifestyle brand that makes footwear and apparel products using naturally derived materials, such as tree fiber, sugarcane, crab shells, and more. Allbirds markets directly to consumers via its digital platform and its physical footprint of 27 stores as of June 30, 2021. Through its distribution infrastructure, the company is able to reach up to 2.5 billion people globally across 35 countries. A public benefit corporation (PBC) and certified B Corp, Allbirds has maintained a carbon-neutral supply chain since 2019.
The San Francisco, CA-based company was founded in 2015 and booked $244 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol BIRD. Allbirds filed confidentially on June 16, 2021. Morgan Stanley, J.P. Morgan, BofA Securities, Baird, William Blair, Piper Sandler, Cowen, Guggenheim Securities, KeyBanc Capital Markets, Stifel, and Telsey Advisory Group are the joint bookrunners on the deal. No pricing terms were disclosed.
