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ShiftPixy To Raise $12M Via Offering Of Common Stock, Warrants

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  • ShiftPixy Inc. (NASDAQ: PIXY) has entered into a securities purchase agreement for a private placement of common stock and warrants for gross proceeds of ~$12 million.

  • The company has agreed to sell 2.85 million common shares with warrants to buy up to 2.85 million shares of common stock and 4.67 million pre-funded warrants, each exercisable for one share of common stock, together with common warrants to purchase up to 4.67 million shares of common stock.

  • Each share of common stock and accompanying warrant sold together at a combined price of $1.595. Each pre-funded warrant and accompanying warrant are sold together at a combined price of $1.5949.

  • ShiftPixy intends to use the net proceeds from the private placement for general corporate purposes. The offering is expected to close on or about September 3, 2021.

  • Price Action: PIXY shares are trading higher by 0.98% at $1.48 on the last check Wednesday.

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