ShiftPixy plunges on $5 mln stock placement

ShiftPixy

21/09/2022 14:24

** ShiftPixy Inc's  PIXY.O  shares plunge 30% to $14.99
premarket after staffing software maker announces private
placement
    ** Co says sold 416,667 shares and warrants to buy up to
833,334 shares to a single U.S. institutional investor at $12
 urn:newsml:reuters.com:*:nBwbkSNnma
    ** Offering price is 44% discount to stock's last close
    ** Co plans to use net proceeds for general corporate
purposes, including working capital, and capex
    ** PIXY has ~513.35 mln shares outstanding, per Refinitiv
data
    ** Shares have seen volatile swings in Sept, catching the
attention of retail investors, with co executing a 1-for-100
stock split at beginning of the month  urn:newsml:reuters.com:*:nL4N30F2P7
    ** YTD, shares down 82% through Tues close
    

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))