ShiftPixy, Inc. announced a private placement of 2,265,000 shares of common stock at a price of $1.10 per share and warrants for the gross proceeds of $2,491,500 on October 6, 2023. The warrants issued pursuant to the concurrent private placement will have an exercise price of $1.10 per share, will be exercisable beginning six months after issuance and will expire 5 years from the initial exercise date. The transaction is expected to close on or about October 10, 2023.

The transaction will include participation from a single institutional investor.