WestPark Capital Announces Closing of $25 Million IPO for Infobird Co., Ltd. (NASDAQ: IFBD)
LOS ANGELES–(BUSINESS WIRE)–WestPark Capital, a full-service investment bank and securities broker-dealer based in Los Angeles, today announced the closing of the initial public offering (“IPO”) for its client Infobird Co., Ltd (“Infobird” or the “Company”). WestPark was the Book-Running Manager of the offering. 6,250,000 ordinary shares were sold for a total of $25,000,000 in gross proceeds before fees and expenses. Infobird’s shares began trading on The Nasdaq Global Market (“Nasdaq”) on Tuesday April 20, 2021 under the trading symbol “IFBD.”
In addition, Infobird has granted the underwriters a 45-day option to purchase up to 937,500 additional shares at the initial public offering price less underwriting discounts and commissions, to cover over-allotments, if any.
WestPark Capital, Inc. acted as the Lead Book-Running Managing Underwriter to this 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 email@example.com.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 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 firstname.lastname@example.org.
WestPark Capital, Inc.
Infobird Co., Ltd
Yimin Wu, Chief Executive Officer and Chairman of the Board of Directors