Bird Rides, Inc. to Become a Public Company via Merger with Switchback II Corporation
Vinson & Elkins represented Switchback II Corporation, a publicly traded special purpose acquisition company with a strategic focus on the energy transition sector, in a definitive business combination agreement with Bird Rides, Inc. (“Bird”), a leader in shared short range environmentally friendly electric transportation, that would make Bird a public company.
The business combination values Bird at an enterprise value of $2.3 billion. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is an electric vehicle transportation company dedicated to bringing affordable, environmentally friendly transportation solutions to communities across the world. Switchback is sponsored by NGP Switchback II, LLC, which is owned by a private investment fund advised by NGP Energy Capital Management, L.L.C., and the management team of Switchback.
The V&E team consisted of Doug McWilliams, Ramey Layne, David Peck, Lina Dimachkieh, Sean Becker, Shane Tucker, Devika Kornbacher, Margaret Peloso, Hill Wellford, Matthew Stammel, Sarah Mitchell, Martin Luff, Mike Marek, Andrew Schulte, Brian Russell, Kristy Fields, Ben Cukerbaum, Ryan Will, Todd Hartis, Jordan Fossee and Elisie Lee.
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