share_log

Infobird Software | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC ·  Jul 2 04:09

Summary by Futu AI

Infobird Co., Ltd, a company specializing in digital advertising and marketing strategies, has entered into an equity acquisition agreement with Shangri-La Trading Limited. The agreement, signed on June 28, 2024, will result in Infobird acquiring a 65% stake in Pure Tech Global Limited for an aggregate purchase price of approximately $40.0 million. This transaction includes transaction costs and will be funded through $33 million in cash and a $7 million promissory note. The acquisition is expected to close in July 2024. Pure Tech Global Limited, through its subsidiaries, including Pinmu Century (Beijing) Marketing Technology Co., Ltd, focuses on digital advertising and marketing campaigns. This strategic acquisition aims to expand Infobird's market in the maternal and infant vertical field, seeking to enhance the company's value and competitiveness within the industry. The company has made forward-looking statements regarding the anticipated benefits of the transaction, which involve risks and uncertainties. The full details of the Equity Acquisition Agreement are included in Exhibit 10.1 of the Form 6-K filed with the U.S. Securities and Exchange Commission.
Infobird Co., Ltd, a company specializing in digital advertising and marketing strategies, has entered into an equity acquisition agreement with Shangri-La Trading Limited. The agreement, signed on June 28, 2024, will result in Infobird acquiring a 65% stake in Pure Tech Global Limited for an aggregate purchase price of approximately $40.0 million. This transaction includes transaction costs and will be funded through $33 million in cash and a $7 million promissory note. The acquisition is expected to close in July 2024. Pure Tech Global Limited, through its subsidiaries, including Pinmu Century (Beijing) Marketing Technology Co., Ltd, focuses on digital advertising and marketing campaigns. This strategic acquisition aims to expand Infobird's market in the maternal and infant vertical field, seeking to enhance the company's value and competitiveness within the industry. The company has made forward-looking statements regarding the anticipated benefits of the transaction, which involve risks and uncertainties. The full details of the Equity Acquisition Agreement are included in Exhibit 10.1 of the Form 6-K filed with the U.S. Securities and Exchange Commission.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.