Ahead of a limited, private pre-emption opportunity for eligible Crowdcube investors launching tomorrow, Cowboy confirms it is on track for a strong first quarter as part of the European mobility group ReBirth.
Following the vertical integration with ReBirth earlier this year, Cowboy has restarted production at their French manufacturing facility and re-established a structured production schedule.
To date, approximately 90% of the order backlog has already been fulfilled since completion of the transaction with ReBirth Group Holding SAS and as a result of a ramped up production plan, almost all outstanding customer orders for bikes and spare parts are expected to be resolved within the first quarter.
The next operational milestone will be reached in Q2, with average delivery lead times targeted at 20 days or below significantly reduced from prior disruption levels, alongside a fully stabilised spare-parts supply. To note, some models are already available at this lead time.
In parallel, Cowboy has accelerated execution of its recall programme. Recall hubs are now operational in 6 cities across 5 countries, and turnaround times from collection to return have been maintained at under one month for the majority of recalled bikes, despite the technical complexity of a full frame replacement. To date, 40% of eligible bikes over 2500 km have been processed or scheduled, with further expansion underway.
These milestones reflect a materially strengthened position compared to last year. As part of the ReBirth group, Cowboy now benefits from integrated manufacturing capacity, structured supplier contracts, and a reinforced working capital framework – delivering greater operational resilience and predictability than its previous standalone structure
Following last year’s Crowdcube Nominee vote – with 90% of participating investors supporting the merger with ReBirth – Crowdcube Nominees have been granted a contractual right to participate in a subsequent capital increase. Cowboy will therefore open a limited, private pre-emption opportunity for eligible Crowdcube investors.
The round will be capped at €250,000 and is designed to allow existing investors to maintain or increase their relative ownership following the restructuring. It is not a public fundraising campaign, and participation is entirely optional. All participants will invest on the same valuation and terms as other continuing shareholders under the post-transaction structure.
With production stabilised, recall execution progressing to plan, and backlog clearance nearing completion, Cowboy enters the remainder of the year focused on disciplined delivery, operational consistency, and measured growth within the ReBirth group.