Cowboy e-bikes rescued from collapse thanks to rescue deal

Cowboy, an e-bike company, has secured short-term financing that will allow its operations to return to normal after facing a period of significant challenges. The company has signed a term sheet with a new partner, Rebirth, which it believes will lead to long-term stability. Cowboy has been affected by several industry-wide issues, including post-COVID shifts in e-bike demand and supply chain problems. Additionally, the company had to recall some of its Cruiser ST bikes due to a supplier-related issue, which added further strain. As a result of these challenges, Cowboy's customers experienced delays, and the company struggled to communicate effectively. However, with the new financing in place, the company has been able to start the recall process and replace the faulty frames. Cowboy has expressed its determination to overcome the difficulties and continue its operations, stating, "We are not yet where we want to be, but we are here. Still standing. Still fighting. And more determined than ever."