ShiftPixy Inc. (PIXY) shares plunged 9.60% in after-hours on Friday, September 16, 2021, and closed the trading at $1.13. Even in the regular trading session, PIXY’s stock lost 0.79%. PIXY shares have fallen 68.59% over the last 12 months, and they have moved down 4.58% in the past week. Over the past three months, the stock has lost 49.60%, while over the past six months, it has declined 57.63%.
Let’s have a brief discussion about its recent news and developments.
PIXY private placement of Stock
On September 01, 2021, ShiftPixy, Inc entered into a securities purchase agreement with a large institutional investor for a private placement of common stock and warrants. The company is expecting to get approximately $12 million in gross proceeds from the offer.
PIXY agreed to sell (i) 2,850,000 shares of its common stock together with warrants to purchase up to 2,850,000 shares of common stock, and (ii) 4,673,511 pre-funded warrants with each pre-funded warrant exercisable for one share of common stock.
PIXY participation at the recent conferences
ShiftPixy, Inc (PIXY) recently participated at the Sidoti August Microcap Conference which was held on Thursday, August 19, 2021.
The company also participated at the D.A. Davidson Bison Select Conference which was held on Wednesday, August 4, 2021.
Sponsorship of Four SPAC Offerings
On April 29, 2021, ShiftPixy, Inc (PIXY), through a newly formed wholly-owned subsidiary, was identified as the sponsor in registration statements on Form S-1 filed with the Securities and Exchange Commission relating to proposed initial public offerings of four Special Purpose Acquisition Companies (SPACs). The details are available and the company’s website.
Conclusion
Well, we have no recent news or development which could be linked with its poor Friday performance. We hope that it will commence the new week with positive energy.
About the company
ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology. The company combines the modern perks of the gig economy with traditional employment benefits. PIXY app serves as an all-in-one workforce management platform for operators that rely on contingent employees. But it’s also a dynamic employment resource for shifters who want the freedom to make their schedule.
