Infobird announces 1-for-8 share consolidation and capital reduction

Infobird announced that the extraordinary general meetings of the shareholders held on February 20 approved the proposed 1-for-8 share consolidation of its ordinary shares as well as capital reduction and share capital reorganization. “Beginning with the opening of trading on February 27, 2024, the company’s ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol ‘IFBD‘, but under a new CUSIP number of G47724300. 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 company stated.