ShiftPixy Announces Pricing Of $5M Offering Priced At-the-Market
Portfolio Pulse from Benzinga Newsdesk
ShiftPixy, Inc. (NASDAQ:PIXY), a staffing enterprise for the Gig Economy, announced a $5M offering priced at-the-market under Nasdaq rules. The offering includes 1,176,470 units at $4.25 each, consisting of common stock or pre-funded warrants, and common warrants exercisable at $4.25. The proceeds are intended for general corporate purposes. A.G.P./Alliance Global Partners is the sole placement agent. The offering is expected to close on March 21, 2024.
March 19, 2024 | 12:04 pm
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ShiftPixy announces a $5M offering at $4.25 per unit to fund general corporate purposes, with A.G.P./Alliance Global Partners as the placement agent.
The offering is likely to have a neutral short-term impact on ShiftPixy's stock price. While the infusion of capital is positive for the company's financial health and future growth, the dilutive effect of the new shares could temper any potential stock price gains. The pricing at-the-market suggests the offering is in line with current market valuations, which may mitigate any negative investor reaction.
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