Allbirds prices IPO at $15 per share

11:22, 3 November 2021

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Allbirds shoes
Allbirds shoes - Photo: Allbirds

Allbirds is set to begin trading on the Nasdaq stock exchange after fetching a higher than forecast price for its planned initial public offering (IPO).

Shares are scheduled to begin trading Wednesday under the ticker "BIRD", the company said in a press release.

The sustainable athletic footwear company set share prices at $15 to raise $302.8m.

$2.16bn (£1.58bn)valuation

The price values the San Francisco, California-based company at over $2.16bn (£1.58bn), according to records filed with the US Securities and Exchange Commission.

The share offering launched last month with price guidance in the $12–$14 per share range.

Company insiders sold 3.85 million shares into the IPO. Allbirds will not realise proceeds from those shares. The underwriting group has a 30-day option to purchase an additional 3.03 million shares at the IPO price.

BofA, JPMorgan and Morgan Stanley were the joint-lead managers, with Morgan Stanley running the books.


In the amended S-1 shelf registration, Allbirds estimated a $15–$18m net loss in the three months ending 30 September on revenue in the $61–$62.5m range.

The quarterly revenue represents a 29.2% to 32.4% increase versus the comparable prior year’s quarter $47.2m in revenue, which the company credits to brick-and-mortar store reopenings with reduced operating hours combined with an increase in average order values. Allbirds blames the anticipated quarterly loss on increased operating expenses, particularly selling and administrative expenses.

Company profile

Allbirds was founded in 2015 in New Zealand. The self-described “global lifestyle brand” manufactures its athletic shoes primarily from a cellulosic fibre textile platform mainly from eucalyptus.

The company sells primarily through its website and an app, which combine for 89% of 2020 sales, with the retail outlets accounting for 11%.

Since its inception, Allbirds has sold more than eight million pairs of shoes to over four million customers globally, including 3.3 million in the US.

Read more: Footwear retailer Allbirds files for IPO

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