Infobird Co (IFBD) has released an update.
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Infobird Co., Ltd, listed on Nasdaq under the symbol IFBD, has entered into an equity acquisition agreement to acquire 65% of Pure Tech Global Limited from SHANGRI-LA TRADING LIMITED for a total purchase price of USD$40,000,000. The deal includes a combination of cash and promissory notes, alongside a debt waiver, and is subject to adjustments based on certain pre-closing financial activities. The closing of the transaction is scheduled within 45 days from the signing date, with specific terms outlined for the transfer of equity.
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