On March 19, 2024, ShiftPixy, Inc., a staffing enterprise operating in the Gig Economy, announced the pricing of a securities offering expected to raise approximately $5 million. The offering, priced at-the-market under Nasdaq rules, includes 590,000 shares of common stock, 586,470 pre-funded warrants, and 1,176,470 common warrants. The common stock and common warrants were offered at $4.25 per unit, while the pre-funded warrants were priced at $4.2499 per unit, with an exercise price of $0.0001. The common warrants are exercisable for five years at $4.25. A.G.P./Alliance Global Partners served as the placement agent for the offering, which closed on March 21, 2024. Concurrently, ShiftPixy amended the terms of existing warrants issued in July 2022 and 2023, reducing the exercise price to $4.25 and extending their term to March...Show More

On March 19, 2024, ShiftPixy, Inc., a staffing enterprise operating in the Gig Economy, announced the pricing of a securities offering expected to raise approximately $5 million. The offering, priced at-the-market under Nasdaq rules, includes 590,000 shares of common stock, 586,470 pre-funded warrants, and 1,176,470 common warrants. The common stock and common warrants were offered at $4.25 per unit, while the pre-funded warrants were priced at $4.2499 per unit, with an exercise price of $0.0001. The common warrants are exercisable for five years at $4.25. A.G.P./Alliance Global Partners served as the placement agent for the offering, which closed on March 21, 2024. Concurrently, ShiftPixy amended the terms of existing warrants issued in July 2022 and 2023, reducing the exercise price to $4.25 and extending their term to March 21, 2029. The company also agreed to reduce the exercise price of warrants issued in October 2023 to $4.25, contingent on stockholder approval or a six-month period from their issuance. If stockholder approval is not obtained, the exercise price will adjust to the Minimum Price as per Nasdaq rules. The offering was made under a registration statement declared effective by the SEC on March 18, 2024. ShiftPixy intends to use the net proceeds for general corporate purposes, including working capital.