Bird Rides, Inc. acquired LMTS Holding S.C.A. from Target Global, signals Venture Capital and others.
January 26, 2020
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Bird Rides, Inc. acquired LMTS Holding S.C.A. from Target Global, signals Venture Capital and others on January 27, 2020. In private placement transaction, Bird also announced $75 million extension to its Series D funding round, bringing the size of the round to $350 million. Investors joining Bird's existing investors as part of the combined company include Target Global, Team Europe, Idinvest Partners, and Signals Venture Capital. The combined company will result in Bird adding more than 300 employees to its European operations. Paul Sieben, Noah Kornblith, AJ Talt Allen & Overy, Michiel Huizinga, Marc Feider and Roman Kasten of O'Melveny & Myers LLP acted as legal advisor to Bird Rides, Katy Ritzmann, Mathilde Ostertag,Ira Mießler, Arendt & Medernach (Luxembourg), Alexander Olliges, Xavier Picquet, Wilson Sonsini Goodrich & Rosati, Alyssa Frederick and Luke Elder acted as legal advisor to Ciric and Benjamin Ullrich and Martin Schaper of Schnittker Möllmann Partners acted as legal advisor to signals Venture Capital. Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor to LMTS Holding S.C.A. Michael Ehret, Marc Feider, Michiel Huizinga, Roman Alexander Kasten, Simon Koenig, Hans-Peter Löw, Philipp Martin, Antoine Messent, Sarah Alissa Saenger, Micha Selke and Philipp Tilk of Allen & Overy LLP acted as legal advisors to Bird Rides, Inc.
Bird Rides, Inc. completed the acquisition of LMTS Holding S.C.A. from Target Global, signals Venture Capital and others for $190 million on January 27, 2020. Bird Rides acquired LMTS Holding for $190.0 million of Series D and Series D-2 Redeemable Convertible Preferred Stock.
Bird Global, Inc. is a micro mobility company, which is engaged in delivering electric transportation solutions for short distances. The Company's segments include Sharing, Platform, and Retail Sales. The Company's vehicle-sharing business and operations (Sharing) provide riders with on-demand access to Bird vehicles (e-scooters and e-bikes), enabling them to locate, unlock, and pay for rides through its mobile application (the Bird App). For a single ride, riders pay a fixed unlock fee to access the vehicle in addition to a market-level, per-minute price for each minute the vehicle is in use. It offers a white labeled version of its products and technology (Bird Platform). The Company sells fleets of Bird vehicles to its Platform partners for them to operate in their local markets. The Company sells Bird vehicles for personal use (Retail Sales) through select retail and wholesale channels.
BIRD GLOBAL, INC. 
