PIXY - ShiftPixy Stock Is Tumbling Tuesday: Here's Why | Benzinga
ShiftPixy Inc (NASDAQ:PIXY) shares are trading lower Tuesday after the company announced the pricing of a $5 million offering.
What Happened: ShiftPixy has announced the pricing of its “reasonable best efforts” offering of 1,176,470 units. The units will be offered for $4.25 per unit and priced at-the-market under Nasdaq rules. Each unit consists of one share of common stock and one common warrant, which is immediately exercisable at a price of $4.25 per share and has a term of five years.
The human capital management platform company said it anticipates gross proceeds of $5 million. Net proceeds will be used for general corporate purposes, including working capital. The offering is expected to close on or about March 21.
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