After pivoting to become an AI company in April, former shoe brand Allbirds on June 17 announced another name change to become “Smartbird” and appointed a new president and CEO, Nadia Carlsten.
The company also said it increased the size of its convertible financing facility from $50 million to $100 million and appointed its independent director Lily Yan Hughes as board chair.
The company’s stock popped on Wednesday following these announcements, rising over 39 percent from $3.94 to $5.48 as over 47 million shares were exchanged.
“[Carlsten’s] groundbreaking work and visionary mindset will be instrumental in establishing a foothold in the market and building a scalable long-term solution for enterprise customers,” said Hughes. “The board selected Nadia because of the breadth of her experience and demonstrated success delivering breakthrough ideas and initiatives at scale.”…