ShiftPixy, Inc. Announces $2.5M Registered Direct Offering And Concurrent Private Placement
Portfolio Pulse from Benzinga Newsdesk
ShiftPixy, Inc. (NASDAQ:PIXY) has announced a registered direct offering and concurrent private placement with a single U.S. institutional investor. The deal involves the sale of 2,265,000 shares of common stock at $1.10 per share, and warrants to purchase up to the same number of shares. The gross proceeds from the offering are expected to be approximately $2.5 million. The closing of the offering is expected to occur on October 10, 2023.
October 06, 2023 | 12:02 pm
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NEUTRAL IMPACT
ShiftPixy's announcement of a registered direct offering and concurrent private placement could potentially dilute existing shareholders' equity, but also provide the company with additional capital for corporate purposes.
The offering could dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the additional capital could be used for beneficial corporate purposes, which could have a positive impact in the long term.
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