Smartbird, Inc. (formerly Allbirds, Inc.) announced a significant strategic pivot to the AI infrastructure market, appointing Dr. Nadia Carlsten as its new President, CEO, and director. This move is supported by a $50 million expansion of its senior secured convertible note facility, bringing the total to $100 million. The company has officially changed its name and removed its public benefit corporation status to align with its new focus.
Key Details
- CEO Appointment: Dr. Nadia Carlsten, an executive with extensive experience in AI and advanced computing at companies like DCAI, SandboxAQ, and Amazon Web Services, will become President, CEO, and director, effective June 18, 2026. The outgoing CEO, Joe Vernachio, will resign effective June 19, 2026.
- Increased Financing: The company amended its securities purchase agreement to increase its senior secured convertible note facility by $50.0 million, for an aggregate principal amount of up to $100.0 million. The conversion price for the newly available notes is $4.00 per share.
- Corporate Rebranding: Effective June 15, 2026, the company's name was changed from Allbirds, Inc. to Smartbird, Inc., and it ceased to be a public benefit corporation, reflecting its new strategy to provide dedicated AI infrastructure as a managed service.
- Board Leadership: Independent director Lily Yan Hughes has been appointed as Chairperson of the Board.