On Monday, Milwaukee city leaders announced a long-term agreement with both Lime and Spin, which will allow them to operate permanently in the city.

TORONTO--(BUSINESS WIRE)--Bird today announced that the company has successfully emerged from Chapter 11 proceedings under a newly organized private parent company called Third Lane Mobility Inc. With a strengthened balance sheet, reduced operating expenses and right-sized capital structure, the transaction included the sale of Bird’s assets to Third Lane Mobility, which encompasses both the Bird and Spin Brands. Bird and Spin will continue to operate in and serve cities across the globe and are well positioned for long-term, sustainable growth as they maintain and expand operations across North America, Europe, the Middle East and Asia. Over the last three months, both Bird and Spin have won multiple new competitive bids and announced the launch of service in several new cities, including Corpus Christi, Texas; Greensboro, North Carolina; the University of Illinois; Surrey and Mississauga, Canada; Naples and Torino, Italy; as well as competitive renewals of service in Gap, France and Zaragoza, Spain. "Today’s announcement marks the beginning of a new chapter for us as we embark on our next step as a private company. We are a substantially stronger business financially with many opportunities ahead that position us for long-term growth around the world,” said Michael Washinushi, Co-CEO