Infobird Co (IFBD) has released an update.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Infobird Co., Ltd, a Nasdaq-listed company, has entered into an amendment to its equity acquisition agreement to purchase 65% of Pure Tech Global Limited, owned by SHANGRI-LA TRADING LIMITED, for a total purchase price of USD $40 million. The deal includes a mix of cash, a promissory note, and a debt waiver, and aims to acquire the Target Company’s equity free from encumbrances. This strategic acquisition is expected to be completed within 180 days and will enhance Infobird’s control over two subsidiaries through VIE agreements, thereby solidifying its market position.
For further insights into IFBD stock, check out TipRanks’ Stock Analysis page.