Simon Ventures-backed electric scooter rental service Bird is getting a New York Stock Exchange listing through the merger with Switchback II Corporation.

Bird, the US-based mobility services provider backed by real estate developer Simon Property, revealed yesterday it is merging with special purpose acquisition company Switchback II Corporation.

The company will acquire the position on the New York Stock Exchange taken by Switchback II in a $275m initial public offering in January this year. The deal grants Bird a $2.3bn pro forma enterprise valuation.

The transaction will be boosted by a $160m private placement from investors including investment and financial services…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.