Bird Secures $450 Million Debt for Shareholder Payouts Amid AI Repositioning

Bird.com has secured $450 million in debt financing led by J.P. Morgan, including a $400 million term loan and a $50 million revolving credit facility, with Capital One, Citi and other banks participating. The company said the dividend recapitalization will provide liquidity to existing shareholders, including current and former employees, rather than fund growth or a new equity round. Bird is repositioning around AI agents with its revamped Agentic Harness, which enables agents to send messages, place calls, manage email and obtain eSIM phone plans through Bird’s communications infrastructure without custom integrations. The company reported $165 million in EBITDA in 2025 and said extensive automation has reduced its workforce from more than 1,000 employees at its peak to about 120, while lowering some customer communication costs and supporting an expansion into the U.S.