ChineseNewsBreaks – Infobird Co. Ltd. (NASDAQ: IFBD) Announces Exercise, Closing of Underwriters’ Over-Allotment Option in IPO

Company: Infobird Co. Ltd (IFBD)
Category: News

Infobird (NASDAQ: IFBD), a software-as-a-service (“SaaS”) provider of AI-powered customer engagement solutions in China, today announced the partial exercise and closing of the underwriters’ over-allotment option in connection with its previously announced underwritten initial public offering. According to the update, Infobird secured gross proceeds of $500,000, before underwriting discounts and commissions and offering expenses, through the issuance and sale of an additional 125,000 ordinary shares, each at a public offering price of $4.00. After giving effect to the partial exercise of the underwriters’ over-allotment option, the total number of ordinary shares sold by Infobird in the initial public offering was 6,375,000 and gross proceeds were $25,500,000. The offering was conducted on a firm commitment basis with all ordinary shares offered by Infobird. WestPark Capital Inc. acted as the book-running manager for the offering.

To view the full press release, visit https://ibn.fm/DLQwp

About Infobird Co. Ltd.

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered or enabled customer engagement solutions. For more information about the company, visit www.Infobird.com.

NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD

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