Infobird (NASDAQ: IFBD), a leading provider of AI-powered customer engagement solutions in China, has announced plans to implement a one-for-five share consolidation of its ordinary shares. Infobird says the plan will be effective beginning with the opening of trading on Sept. 9, 2022. At that time, IFBD ordinary shares will begin trading on the NASDAQ on a post-share consolidation basis; the shares will trade under the same IFBD symbol but will have a new CUSIP number: G47724201. According to the announcement, by implementing the share consolidation, the company hopes to regain compliance with Nasdaq Marketplace rules and maintain its listing on the Nasdaq Capital Market. The consolidation, which has been approved by the Infobird board of directors and shareholders, calls for every five issued and outstanding ordinary shares to be converted into one issued and outstanding ordinary share with no fractional shares being issued. The announcement noted that the share consolidation impacts all shareholders uniformly and “will not alter any shareholder’s percentage interest in the company’s outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares.”
To view the full press release, visit https://ibn.fm/tkkDq
About Infobird Software Co. Ltd.
Infobird, headquartered in Beijing, China, is a software-as-a-service (“SaaS” provider of innovative AI-powered or enabled customer-engagement solutions in China. For more information about the company, visit 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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