Photo by Vjeran Pavic / The Verge
Bird, the electric scooter company that helped launch the global micromobility boom, is planning to go public via a reverse merger with a special acquisition company, or SPAC, according to dot.LA. Bird is merging with Switchback II Corporation, a Dallas-based “blank check” company focusing on companies reducing carbon emissions, according to documents reviewed by the website.
Bird is the latest transportation company, but one of only a few e-scooter companies, to go public. A record number of companies have gone public this past year by merging with SPAC shell corporations, which avoids the scrutiny of a traditional IPO.