On March 28, 2024, ShiftPixy, Inc., a company listed on The Nasdaq Stock Market, received a notification from Nasdaq's Listing Qualifications Department indicating the company's non-compliance with Nasdaq's shareholder approval requirements. Specifically, ShiftPixy failed to meet the Listing Rule 5635(d) due to a transaction involving the issuance of more than 20% of its pre-transaction shares at a price below the minimum required. The transaction in question was a securities purchase agreement announced on July 12, 2023, where ShiftPixy agreed to sell 2,066,667 units at $1.50 each, significantly below the minimum price, in what was characterized as a public offering. However, Nasdaq determined the offering did not meet the criteria for a public offering, as one investor bought 96% of the units. ShiftPixy has 45 days from the receipt of the Nasdaq Letter to submit a plan to regain compliance, with the possibility of a 180-day extension to demonstrate compliance.

On March 28, 2024, ShiftPixy, Inc., a company listed on The Nasdaq Stock Market, received a notification from Nasdaq's Listing Qualifications Department indicating the company's non-compliance with Nasdaq's shareholder approval requirements. Specifically, ShiftPixy failed to meet the Listing Rule 5635(d) due to a transaction involving the issuance of more than 20% of its pre-transaction shares at a price below the minimum required. The transaction in question was a securities purchase agreement announced on July 12, 2023, where ShiftPixy agreed to sell 2,066,667 units at $1.50 each, significantly below the minimum price, in what was characterized as a public offering. However, Nasdaq determined the offering did not meet the criteria for a public offering, as one investor bought 96% of the units. ShiftPixy has 45 days from the receipt of the Nasdaq Letter to submit a plan to regain compliance, with the possibility of a 180-day extension to demonstrate compliance.