HONG
KONG, Dec. 7, 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
December 5, 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 September 12, 2023, 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 March 11, 2024, to regain compliance. Effective November 15,
2023, the Company effected a 1-for-20 share consolidation.
The Notice noted that as of December 5,
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 November 20 through
December 4, 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 Hong Kong,
China, is a software-as-a-service provider of innovative
AI-powered, or artificial intelligence enabled, customer engagement
solutions. For more information, visit Infobird's website at
www.Infobird.com.
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SOURCE Infobird Co., Ltd