STAF - Staffing 360 Solutions under pressure after pricing $7.58M registered direct offering

Staffing 360 Solutions (STAF) down 13.6% premarket on pricing registered direct offering of 2,199,132 common stock at $3.45 per share, for gross proceeds of ~$7.58M.The company has also agreed to issue to the investors unregistered five-year warrants to purchase up to an aggregate of 1,099,566 shares of common stock, exercisable at $3.80 per share,Offering is expected to close on July 23. Net proceeds will be used to redeem a portion of outstanding note due September 30, 2022, to redeem a portion of Series G Preferred Stock and for general working capital purposes.

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Staffing 360 Solutions under pressure after pricing $7.58M registered direct offering