ShiftPixy Announces Sponsorship of Four SPAC Offerings
April 29 2021 - 8:49AM
Business Wire
ShiftPixy, Inc. (NASDAQ: PIXY), a Florida-based staffing
enterprise, which designs, manages, and sells access to a
disruptive, revolutionary platform that facilitates employment in
the rapidly growing Gig Economy, today announced that the Company,
through a newly formed wholly-owned subsidiary, has been identified
as the sponsor in registration statements on Form S-1 filed with
the Securities and Exchange Commission (“SEC”) relating to proposed
initial public offerings of the following four Special Purpose
Acquisition Companies (SPACs):
- Industrial Human Capital, Inc., which proposes to offer 25
million units to the public, comprised of one share of common stock
and one-half of one redeemable warrant, at a price of $10 per unit,
and use the proceeds to acquire one or more light industrial
staffing companies;
- Vital Human Capital, Inc., which proposes to offer 25 million
units to the public, comprised of one share of common stock and
one-half of one redeemable warrant, at a price of $10 per unit, and
use the proceeds to acquire one or more health and nursing staffing
companies;
- TechStackery, Inc., which proposes to offer 25 million units to
the public, comprised of one share of common stock and one-half of
one redeemable warrant, at a price of $10 per unit, and use the
proceeds to acquire one or more technology staffing companies;
and
- Insurity Capital, Inc., which proposes to offer 50 million
units to the public, comprised of one share of common stock and
one-half of one redeemable warrant, at a price of $10 per unit, and
intends to use the proceeds to acquire one or more commercial
insurance company “shells” licensed to conduct business throughout
the United States.
The business address and contact information for each of the
SPACs is c/o ShiftPixy Investments, Inc., 501 Brickell Key Drive,
Suite 300, Miami, FL 33131. The telephone number is 800-475-3655
and the email contact for investors is
InvestorRelations@shiftpixy.com.
These offerings are subject to market and other conditions, and
there can be no assurance as to whether or when the offerings may
be completed, or as to the actual size or terms of the offerings.
Each of the proposed public offerings described above is being
underwritten by A.G.P/Aliiance Global Partners as sole book-running
manager, with Brookline Capital Markets, a division of Arcadia
Securities, LLC, serving as co-manager. It is anticipated that the
offerings will commence simultaneously within the next 45 to 60
days, and will be preceded by various “road-show” events that will
be organized by the underwriters, and during which potential
investors will have the opportunity to direct questions to the
management of the SPACs regarding these proposed offerings.
Registration statements relating to these securities have been
filed with the SEC but have not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the registration statements become effective. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
The proposed offerings will be made only by means of a
prospectus. Copies of the preliminary prospectus, when available,
may be obtained from: A.G.P./Alliance Global Partners, 590 Madison
Avenue, 28th Floor, New York, NY 10022 or via telephone at
212-624-2060 or email: prospectus@allianceg.com. Before investing
in this offering, interested parties should read the
prospectus.
About ShiftPixy
ShiftPixy (PIXY) provides a disruptive human capital management
platform, revolutionizing employment in the Gig Economy by
delivering a next-gen mobile engagement technology to help
businesses with shift-based employees navigate regulatory mandates,
minimize administrative burdens and better connect with a
ready-for-hire workforce. With expertise rooted in management’s
nearly 25 years of workers’ compensation and compliance programs
experience, ShiftPixy adds a needed layer for addressing compliance
and continued demands for equitable employment practices in the
growing Gig Economy.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offerings. No assurance can be given that
the offerings discussed above will be completed on the terms
described, or at all. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
SPACs and ShiftPixy, including those set forth in the Risk Factors
section of each registration statement and the preliminary
prospectus included therein. Copies are available on the SEC’s
website at www.sec.gov. The SPACs and ShiftPixy undertake no
obligation to update these statements for revisions or changes
after the date of this press release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210429005663/en/
INVESTOR CONTACT: Investor.Relations@ShiftPixy.com
800.475.3655
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