SPAC Leverage – A new use case

The work which began early this year to position the company on a path to exponential growth leverages the use of Special Purpose Acquisition Companies to create “Mega Clients” for ShiftPixy. While the SPAC market has slowed somewhat, the investor community has become better focused on outcomes and fundamentals. In discussing our strategy with our partners in the capital markets, the idea of a small public company using SPACs in this way to hypercharge the growth of the sponsor became very interesting. This use case is novel, and the outcomes are fundamentally winners in the capital markets. On October 20, ShiftPixy’s first sponsored SPAC Industrial Human Capital (IHC) began trading on the NYSE following a $100M IPO.

The economic impact for ShiftPixy through sponsorship and as a primary vendor is expected to be extraordinary. This high value impact also aligns the success of the sponsor with the SPAC outcomes in a way that is not typical of a SPAC transaction.

Transforming Human Capital Management With Modern Technology

ShiftPixy 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.