Infobird Co., Ltd. Secures $19.8M Equity Acquisition in Major Deal

Key Information from Financial Report (Form 6-K)

General Information

• Company Name: Infobird Co., Ltd
• Commission File Number: 001-40301
• Filing Date: December 20, 2024
• Address: Room 706, 7/F, Low Block, Grand Millennium Plaza, 181 Queen’s Road Central, Central, Hong Kong

Material Agreement

• Type of Agreement: Equity Acquisition Agreement with One One Business Limited
• Closing Date: December 20, 2024
• Transaction Details:
• Cash Payment: $19.8 million
• Convertible Note Issued: $5,953,095
• • Original Issue Discount: 15% of the aggregate principal amount
  • Interest Rate: 5% per annum
  • Maturity: 24 months from issuance
  • Convertible into Ordinary Shares: At the option of the holder
  • Conversion Price: Discount of 40% from the lowest closing price of the last 30 trading days prior to the conversion notice; cannot be lower than $0.40
  • Prepayment Premium: 115% of the outstanding balance if prepaid.

Ownership

• Equity Acquired: 97% of the issued and outstanding equity of Pure Tech Global Limited.

Regulatory Compliance

• Exemption from Registration: Issuance of the Convertible Note was made under Section 4(a)(2) of the Securities Act of 1933.

Additional Information

• Exhibits: The Convertible Promissory Note dated December 20, 2024, is attached as Exhibit 10.1.

This summary encapsulates the crucial elements of the report, focusing on the acquisition and financing aspects that may impact the company's financial position and future performance.