Cassel Salpeter & Co. Facilitates Sale of Bird Global Inc. Assets to Third Lane Mobility Inc. For $145 Million in Micromobility Firm’s Chapter 11 Bankruptcy

MIAMI – April 11, 2024 Cassel Salpeter & Co., an independent investment banking firm that provides advisory services to middle market and emerging growth companies in the United States and worldwide, today announced that it has successfully facilitated the sale in a Chapter 11 363 sale process of substantially all of the assets of Bird Global Inc. (“Bird” or the “Company”), one of the largest micromobility operators in North America and abroad to Third Lane Mobility Inc. for approximately $145 million.

Bird, headquartered in Miami, Fla., is an electric vehicle company dedicated to providing affordable, environmentally-friendly transportation solutions and was the first company to deploy e-scooters and e-bikes to communities across the world. The Company’s clean, affordable, on-demand mobility solutions are available in 350 cities across the United States, Canada, Europe and the Middle East. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.

Third Lane Mobility Inc., a newly organized private company formed by the stalking horse and winning bidder as a consortium of the second and first lien holders, acquired Bird’s assets. The second lien holder was led by John Ivan Bitove of Obelysk Inc. and supported by the first lien holder. The first lien holder was MidCap Financial Services LLC, in alliance with Apollo Investment Corporation.

“We are pleased to have collaborated closely with the Bird team and its advisors to navigate a complex Chapter 11 process on an expedited basis,” said Cassel Salpeter Chairman James Cassel. “Our collective efforts have enabled Bird to come out of bankruptcy and continue to serve communities throughout the world.”

“Cassel Salpeter conducted a thorough process, engaging a wide array of parties and realizing the highest value for the business,” said Bird Chief Restructuring Officer Christopher Rankin. “I highly recommend the Cassel Salpeter team for high-stakes situations, where their diligence and persistence can help optimize outcomes, and would welcome the opportunity to work with them again.”

The Cassel Salpeter team was led by Chairman James Cassel and Managing Director Philip Cassel, with the assistance of Director Laura Salpeter, Associate Charles Davis and Analyst Alejandro Sanchez.

Paul Steven Singerman, Jordi Guso, Clay B. Roberts and Robin J. Rubens of Berger Singerman LLP were counsel for the debtor. Harvey L. Tepner was the independent director for the debtor. James S. Feltman, Scott Lyman, Matthew Rosenberg and Marc Kirscher of Teneo Capital were restructuring advisors to Bird. 

Hugh Murtagh of Latham & Watkins LLP was counsel for the first lien holders and Paul J. Battista and Eric D. Jacobs of Venable LLP were counsel for the second lien holders and the stalking horse bidder. 

The committee of unsecured creditors was represented by David Galfus, Ron Zaidman and Robert Cohen of Berkeley Research Group LLC as financial advisors and Gordon E. Gouveia, Robert F. Elgidely and Michael A. Sweet of Fox Rothschild LLP as counsel. 

About Cassel Salpeter & Co.:

Cassel Salpeter & Co. LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the United States and worldwide. Together, the firm’s professionals have more than 100 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Cofounded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at



Editor’s note: Interviews available upon request.