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InvestorNewsBreaks – Infobird Co. Ltd. (NASDAQ: IFBD) Announces Share Consolidation, Increase of Authorized Share Capital
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November 16, 2023
InvestorNewsBreaks – Infobird Co. Ltd. (NASDAQ: IFBD) Announces Share Consolidation, Increase of Authorized Share Capital
Infobird (NASDAQ: IFBD) is a software-as-a-service provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions. The company today announced that the annual general meeting of the shareholders held on Wednesday, Nov. 15, 2023, approved the proposed 1-for-20 share consolidation of its ordinary shares of US$0.025 par value each (the “share consolidation”) and increase of the company’s authorized share capital (the “increase of authorized shares”) immediately after the share consolidation takes effect. Effective with the opening of trading on Nov. 20, 2023, the company’s ordinary shares will begin trading on a post-share consolidation basis on the Nasdaq Capital Market under the same symbol, IFBD, but under a new CUSIP number of G47724128. The objective of the share consolidation is to enable Infobird to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.
To view the full press release, visit https://ibn.fm/pQao1
About Infobird Co. Ltd.
Infobird is a software-as-a-service provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions. For more information, visit Infobird’s website at http://www.Infobird.com.
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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