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 14, 2021
Bird Announces Upsizing of Vehicle Financing Credit Facility with Apollo to $150 Million
(Los Angeles, CA) October 14, 2021 Bird Rides, Inc. (Bird or the Company), a leader in environmentally friendly electric
transportation, today announced that it has secured commitments from Apollo Investment Corporation (NASDAQ: AINV) and MidCap Financial Trust (each managed or advised by Apollo Capital Management, L.P. or its affiliates, collectively
Apollo) to upsize its existing $40 million vehicle financing credit facility to $150 million, subject to the closing of the previously announced business combination with Switchback II Corporation (Switchback
II; NYSE: SWBK).
Yibo Ling, Chief Financial Officer at Bird, commented, We are pleased to have delivered against our stated objective to
expand our vehicle financing capabilities through the upsizing of our credit facility. This commitment from Apollo reflects further confidence in the strong cash generating capabilities of our electric vehicle fleet enabled by our multi-year track
record of over 100 million rides. With the increased liquidity provided by the upsized facility, we believe we are well positioned to support our expansion plans.
Apollo Managing Director, Aaron Kless said, We are pleased to support Bird through the upsizing of the credit facility, helping the Company to enhance
its vehicle financing capabilities and execute on its strategy. Bird has demonstrated strong performance and we look forward to continuing to work with the Company as it nears completion of its public listing.
Switchback II Shareholder Vote
As previously announced,
the Extraordinary General Meeting of Switchback II to vote on the business combination with Bird 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.
Every vote is important and Switchback II encourages all
shareholders to make their voice heard by voting as soon as possible, regardless of the number of shares held. For information on the meeting and how to vote please go to https://swbk2.com/vote/.
About Bird Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is rapidly expanding. Today, it provides fleets of
shared micro electric vehicles to riders in more than 300 cities globally and makes its products available for purchase at www.bird.co and via leading retailers and distribution partners. 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.
About Switchback II Corporation Switchback
II was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Switchback II focused its search for a
target business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.