The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Bird Global, Inc. on January 24, 2024. To qualify as a qualified bidder, interested parties should submit their bids by February 26, 2024. The initial minimum overbid should be in the amount of $0.5 million more than the initial purchase price.

If the debtor receives any qualified bids then it would hold an auction for its assets on February 28, 2024. At the auction, the subsequent bids would be in increments of $0.25 million. The stalking horse bidder would be entitled to expense reimbursement of $0.18 million in case of termination of the asset purchase agreement.

The sale hearing is scheduled for March 6, 2024. The sale shall be closed on or before March 21, 2024.