Infobird Co., Ltd Announces 1-for-8 Share Consolidation and Capital Reduction
The objective of the Share Consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.
- The objective of the Share Consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.
- Instead, any fractional shares that would have resulted from the Share Consolidation will be rounded up to the next whole number.
- The capital reduction will become effective when the Grand Court of the Cayman Islands grants a court order to confirm the Capital Reduction.
- The Share Consolidation and the Capital Reduction and Reorganization was approved by the Company's board of directors on January 10, 2024 and its shareholders on February 20, 2024.