Bird Global announces NYSE suspends trading, will trade on OTC starting 9/25

Bird Global announced it received notice from the New York Stock Exchange that NYSE will suspend trading of, and commence proceedings to, delist shares of Bird’s Class A common stock, effective at the open of business eastern standard time on September 25. The determination was made in connection with Bird’s non-compliance with an NYSE listing requirement necessitating a market cap of greater than $15M over a consecutive 30-day period. The company does not believe the current market cap is reflective of the intrinsic value of the business and intends to appeal this determination by the NYSE. If the company is successful in its appeal, NYSE will resume trading the company’s Class A common stock. In the interim, the company will remain listed on the NYSE. Following the suspension of the company’s Class A common stock on NYSE, the company’s Class A common stock intends to trade on the OTC exchange operated by OTC Markets Group and will commence trading next week. Bird intends to continue to operate in strict compliance with public company SEC regulations and other NYSE listing requirements, including filing quarterly financial statements, having independently audited financials, and maintaining an independent Board of Directors with strict corporate governance rules and oversight committees.