Filed by Bird Global, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: Switchback II Corporation
Commission File No.: 001-39863
Date: October 7, 2021
Bird Global and Switchback II Corporation Announces November 2, 2021 Extraordinary General
Meeting Date to Approve Proposed Business Combination
(Los Angeles, CA & Dallas, TX) October 7, 2021 Bird Global, Inc. (Bird Global) and Switchback II
Corporation (NYSE: SWBK) (Switchback II) today announced that the Extraordinary General Meeting of Switchback II (the Extraordinary General Meeting) to vote on the previously announced business combination with Bird
Rides, Inc. (Bird), a leader in shared short range environmentally friendly electric transportation, is scheduled to be held on November 2, 2021, at 10:00 a.m., Eastern time. The closing of the business combination is subject to
approval by Switchback IIs shareholders and the satisfaction of other customary closing conditions. Switchback II shareholders at the close of business on the record date of August 16, 2021 (the Record Date) are entitled to notice
of the Extraordinary General Meeting and to vote at the Extraordinary General Meeting. Following the closing of the proposed business combination, Bird Global will be listed on the New York Stock Exchange under the new ticker symbol
BRDS.
The U.S. Securities and Exchange Commission (the SEC) has declared effective Bird Globals registration statement on Form S-4 (File No: 333-256187) (as amended, the Registration Statement), which includes a prospectus of Bird Global and a definitive proxy statement of
Switchback II in connection with Switchback IIs Extraordinary General Meeting.
Todays announcement marks a significant milestone in our
path to becoming a public company and scaling our mission. Following our outperformance in the first half of this year and continued progress against our strategic initiatives, Bird is well positioned to deliver on our objectives with a clear focus
on profitability. As we look ahead, we intend to build upon our market leadership and grow our business, which currently only scratches the surface of the estimated $800 billion annual market opportunity for micromobility, said Bird
Founder and CEO, Travis VanderZanden.
Jim Mutrie and Scott McNeill, Co-Chief Executive Officers and Directors of
Switchback II, commented, We are proud to help bring Bird to the public markets and strongly believe in the companys mission to provide environmentally friendly transportation for everyone. Travis and the Bird team have demonstrated
execution excellence since inception and continue to deliver strong operating and financial results in this expansive market. We look forward to our continued partnership with Bird as it enters its next chapter.
Recent Business Highlights and Milestones
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As previously reported on August 19, 2021, Birds second quarter financial performance for the
three-month period ended June 30, 2021 significantly exceeded Birds expectations. Results included:
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Revenue of $60.0 million, 36% above expectations, representing a year-over-year increase of 477% versus the
same period in 2020, and a 43% increase versus the same period in 2019.
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Gross margin of 26% as a percentage of revenue, representing an 85 percentage point increase over the prior year
period.
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