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.