Infobird Co., Ltd, a company specializing in digital advertising and marketing strategies, has amended its equity acquisition agreement with Shangri-La Trading Limited. The amendment, dated July 31, 2024, pertains to the acquisition of a 65% stake in Pure Tech Global Limited, which indirectly controls Pinmu Century (Beijing) Marketing Technology Co., Ltd and its subsidiaries, as well as Zhenxi Brand Marketing Consulting (Shanghai) Centre and its subsidiaries. The deal, valued at approximately $40.0 million, will be funded through $33 million in cash and a $7 million promissory note. Initially planned to close in July 2024, the closing date has been extended to October 31, 2024, due to the amendment. Pure Tech and its subsidiaries are recognized for leveraging digital technology to develop online marketing strategies and have been instrumental in expanding Infobird's market presence in the maternal and infant vertical field. The company's management anticipates that this acquisition will enhance Infobird's value and competitiveness within the industry.

Infobird Co., Ltd, a company specializing in digital advertising and marketing strategies, has amended its equity acquisition agreement with Shangri-La Trading Limited. The amendment, dated July 31, 2024, pertains to the acquisition of a 65% stake in Pure Tech Global Limited, which indirectly controls Pinmu Century (Beijing) Marketing Technology Co., Ltd and its subsidiaries, as well as Zhenxi Brand Marketing Consulting (Shanghai) Centre and its subsidiaries. The deal, valued at approximately $40.0 million, will be funded through $33 million in cash and a $7 million promissory note. Initially planned to close in July 2024, the closing date has been extended to October 31, 2024, due to the amendment. Pure Tech and its subsidiaries are recognized for leveraging digital technology to develop online marketing strategies and have been instrumental in expanding Infobird's market presence in the maternal and infant vertical field. The company's management anticipates that this acquisition will enhance Infobird's value and competitiveness within the industry.