ShiftPixy tumbles on direct stock deal

ShiftPixy

06/10/2023 13:35

** ShiftPixy Inc's  PIXY.O  shares down ~24% at $1 premarket
after workforce management platform raises equity
    ** Co announces sale of ~2.3 mln shares to single U.S.
institutional investor in direct offering and warrants to buy up
to same amount of shares in private placement
    ** Combined purchase price of $1.10 is ~15% discount to
stock's last close of $1.30
    ** Co plans to use net offering proceeds for general
corporate purposes
    ** Co has ~12.2 mln shares outstanding, per LSEG data
    ** Alliance Global Partners sole advisor for offering
    ** Through Thurs close, PIXY down 94% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))