FILE PHOTO: A man in a suit rides an electric BIRD rental scooter along a city street in San Diego, California, U.S. September 4, 2018.REUTERS/Mike Blake
(Reuters) - Electric scooter rental company Bird Rides plans to use most of the cash raised from merging with a special purpose acquisition company (SPAC) to expand to new cities and grow its business in existing markets, the company's top executive said.
Bird is poised to merge with Switchback II Corp and start trading on the New York Stock Exchange on Thursday or Friday under the ticker symbol "BRDS" in a deal valuing the scooter startup at $2.3 billion.
Already a subscriber? Log in.
Celebrate Merdeka with 50% Off!
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
