Infobird prices $5.0M registered direct offering at $1.30 per unit

Infobird "announced the pricing of its registered direct offering of 3,846,000 units, with each unit consisting of one ordinary share and 0.65 warrant to purchase one ordinary share. Each unit was sold at a price of $1.30. The warrants will be exercisable immediately upon the date of issuance, have an exercise price of $1.30, and will expire five years form the date of issuance. Concurrently with the Offering, the Company is conducting a private placement with the investors in the Offering for additional unregistered warrants to purchase 2,884,500 ordinary shares. The unregistered warrants will be exercisable six months after the date of issuance, have an exercise price of $1.30, and will expire five and a half years from the date of issuance. Gross proceeds from the Offering and the concurrent private placement, before deducting placement agent fees and other offering expenses, are expected to be approximately $5 million. The Offering is expected to close on February 28, 2023, subject to customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with this Offering and the concurrent private placement."