Infobird announces 1-for-20 share onsolidation and authorized share increase

Infobird shareholders approved the proposed 1-for-20 share consolidation of its ordinary shares of 2.5c par value each and increase of the company’s authorized share capital immediately after the Share Consolidation takes effect. Beginning November 20, the company’s ordinary shares will begin trading on a post-Share Consolidation basis on Nasdaq under the same symbol “IFBD“, but under a new CUSIP number of G47724128. The objective of the share consolidation is to enable the company to regain compliance with Nasdaq Marketplace Rule 5550(a) and maintain its listing on the Nasdaq Capital Market. Every twenty issued and outstanding ordinary shares of a par value of 2.5c each will automatically be consolidated into one issued and outstanding ordinary share of a par value of 50c each. The Share Consolidation will not alter any shareholder’s percentage interest in the company’s outstanding ordinary shares.