Summary by Futu AI
Infobird Co., Ltd, a software company listed as IFBD on the United States Securities and Exchange Commission (SEC), has announced a series of corporate actions in a Form 6-K filing for January 2024. The company detailed plans for an extraordinary general meeting of shareholders to be held on February 20, 2024. The meeting's agenda includes proposals for a share consolidation, capital reduction and reorganization, and the adoption of the Sixth Amended and Restated Memorandum and Articles of Association. The share consolidation proposal involves consolidating every 8 ordinary shares into 1 share, with the aim of complying with Nasdaq's minimum bid price requirement. The capital reduction and reorganization proposal, contingent on the share consolidation, includes reducing the par value of each issued share and creating a distributable reserve account for the company. The proposed amendments to the Memorandum and Articles of Association reflect these changes. The company's board, led by Director and CFO Yiting Song, has signed off on the report, which also includes proxy statements and forms for shareholder voting.