SWBK - SPAC Switchback II gains on report of deal to take electric scooter co. Bird public

May, 10 2021 03:17 PM Switchback II Corporation Class A

Electric scooter-sharing startup Bird Rides is said to be planning to go public through a deal with SPAC Switchback II (SWBK) that will value the company at $2.3B. Switchback II rose 0.7%.Switchback has been marketing a $200M pipe in recent weeks for the deal, according a dot.LA report.The valuation is below the $2.85B valuation the company had at the beginning of 2020. Bloomberg reported in November that Santa Monica, California-based Bird Rides was working with a bank to explore a potential SPAC deal.Last month Niu Technologies' (NIU) said its electric kick scooter will be available in U.S. and Europe in July.Last May Uber (UBER) led a $170M investment in Bird competitor Lime.

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SPAC Switchback II gains on report of deal to take electric scooter co. Bird public

Company Name:	Switchback II Corporation Class A
Stock Symbol:	SWBK
Market:	NYSE

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