Staffing 360 Solutions Prices $5M Equity Offering

Shivani Kumaresan
1 min read
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In this article:

  • Staffing 360 Solutions Inc (NASDAQ: STAF) has priced a public offering of 1.8 million units, consisting of one share and one warrant to purchase the share.

  • The company has priced the offering at $2.65 per unit.

  • The shares and the warrants included in the units can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance.

  • The warrants have an exercise price of $2.47 per share, will be immediately exercisable, and will expire five years from issuance.

  • The offering is expected to close on or about Feb. 10, 2023.

  • The company expects gross proceeds from the offering to be approximately $5 million.

  • The company intends to use 50% of the net proceeds to repay a portion of the outstanding obligations and the remaining 50% for working capital purposes.

  • Price Action: STAF shares are trading lower by 3.64% at $2.38 in premarket on the last check Wednesday.

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This article Staffing 360 Solutions Prices $5M Equity Offering originally appeared on Benzinga.com

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