BEIJING, May 31, 2023
/PRNewswire/ – Infobird Co., Ltd (NASDAQ: IFBD) ("Infobird" or the
"Company"), a software-as-a-service provider of AI-powered customer
engagement solutions in China, today announced that it
received a notification letter (the "Notice") from the Listing
Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq")
on May 30, 2023 notifying the Company
that it has regained compliance with the Nasdaq Capital Market's
minimum bid price requirement and that the matter is now
closed.
On December 6,
2022, the Company was notified by Nasdaq of its failure
to maintain a minimum closing bid price of at least $1.00 per share for 30 consecutive trading days
under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), and was
given 180 days, or until June 5, 2023, to regain compliance.
Effective May 15, 2023, the Company effected a 1-for-5 share
consolidation.
The Notice noted that as of May 30,
2023, the Company evidenced a closing bid price of its
ordinary shares at or greater than $1.00 per share for at least 10 consecutive
business days from May 15, 2023
through May 26, 2023. Accordingly,
the Company has regained compliance with Nasdaq Listing Rule
5550(a)(2), and Nasdaq considers the matter closed.
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.
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SOURCE Infobird Co., Ltd