IRVINE, Calif., June 29, 2017 (GLOBE NEWSWIRE) -- ShiftPixy, Inc., (NASDAQ:PIXY) (“ShiftPixy”) announced today that it has completed the Company’s initial public offering under the Securities & Exchange Commission’s Regulation A+ framework. The Company has successfully raised $12 Million through the sale of 2,000,000 of its shares to the public at $6.00 per share.
WR Hambrecht + Co, acted as representative underwriter for the initial public offering for ShiftPixy. ShiftPixy will begin trading on the NASDAQ Capital Market on Friday, June 30th under the ticker symbol PIXY.
ShiftPixy Co-Founder and CEO, Scott Absher, stated that: “We want to thank all the folks that have worked very hard these many months to complete our IPO. We also look forward to opening trading Friday on the NASDAQ Capital Market.”
ShiftPixy is a disruptive human capital management (HCM) services provider, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps shift-based employers navigate regulatory mandates, minimize administrative burdens, and connects them with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. ShiftPixy’s complete HCM ecosystem manages regulatory requirements and compliance in such required areas as paid time off (PTO) laws, insurance and workers’ compensation, minimum wage increases, and the Affordable Care Act (ACA) compliance.
About WR Hambrecht + Co
WR Hambrecht + Co has been focused on opening the investing world to as many people as possible at fair market prices and was instrumental in reforming Regulation A to help accomplish that for growth companies and investors. Our Regulation A+ strategy is a continuation of the Hambrecht legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.
No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.
The offering, when reset, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, 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 qualification for sale as provided in Regulation A+ in any such state or jurisdiction.