Infobird Co., Ltd. Announces Exercise and Closing of Underwriters' Over-Allotment Option in Initial Public Offering

BEIJING, CHINA / ACCESSWIRE / June 9, 2021 / Infobird Co., Ltd ("Infobird"), a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China, announces the issuance and sale of an additional 125,000 ordinary shares at a public offering price of $4.00 per share, before underwriting discounts and commissions, resulting in gross proceeds of $500,000, before underwriting discounts and commissions and offering expenses, pursuant to the partial exercise of the underwriters' over-allotment option in connection with Infobird's previously announced underwritten initial public offering. 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 shares and gross proceeds were $25,500,000, before underwriting discounts and commissions and offering expenses. The offering was conducted on a firm commitment basis. All of the ordinary shares were offered by Infobird.

The ordinary shares were approved for listing on The Nasdaq Capital Market and commenced trading under the ticker symbol "IFBD" on April 20, 2021.

WestPark Capital, Inc. ("WestPark Capital") acted as the book-running manager for the offering.

A registration statement on Form F-1 (File No. 333-251234), as amended, including a prospectus relating to the offering, was filed with the U.S. Securities and Exchange Commission (the "SEC"), and was declared effective by the SEC on March 31, 2021. The offering of the ordinary shares was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained on the SEC's website at www.sec.gov and may also be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 300, Los Angeles, CA, 90067, or by email at [e-mail].

Before you invest, you should read the prospectus and other documents Infobird has filed or will file with the SEC for more complete information about Infobird and the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Infobird Co., Ltd

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China. For more information, visit Infobird's website at www.Infobird.com.

About WestPark Capital, Inc.

WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, ATMs, Registered Direct Offerings (RD), CMPOs, private placements, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or by email at [e-mail].

Contacts:

Infobird Contact
Infobird Co., Ltd
Yimin Wu, Chief Executive Officer and Chairman of the Board of Directors
[e-mail]
86-010-52411819

Infobird Co., Ltd Investor Relations
TraDigital IR
Kevin McGrath
[phone]
[e-mail]

SOURCE: Infobird Co., Ltd.

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