ShiftPixy Inc (PIXY)

[StockLogistics]

As predicted

“8:32a ET 9/21/2022 - Benzinga
ShiftPixy Announces Pricing Of $5M Private Placement

ShiftPixy, Inc. (NASDAQ:PIXY) ("ShiftPixy" or "the Company"), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced that it has entered into a securities purchase agreement with a single U.S. institutional investor for a private placement of common stock and warrants exercisable for common stock expected to result in gross proceeds to the Company of approximately $5 million before deducting placement agent commissions and other transaction-related expenses payable by the Company. In the private placement, the Company has agreed to sell 416,667 shares of its common stock together with common warrants to purchase up to 833,334 shares of common stock. Each share of common stock and two accompanying common warrants are being sold together at a combined purchase price of $12.00. The common warrants will have an exercise price of $12.00 per share, will be exercisable immediately and will expire seven years from the date of issuance. In connection with the private placement, the Company will reduce the exercise price of 124,194 outstanding warrants to purchase shares of common stock to $0.01 per share, effective upon the closing of the private placement.

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Going back below 1.00 imo