Powerbridge Technologies Co., Ltd. (NasdaqCM:PBTS) agreed to acquire an additional 32% stake in DTI Jiangsu Corporation Limited for approximately CNY 100 million on March 19, 2023. The consideration shall be satisfied by way of allotment and issue of 167.592318 million shares of the Company to DTI. The closing is subject to the customary closing conditions and terms as stipulated in the Agreement.

The Acquisition is expected to be closed on March 24, 2023.