Home Top Movers What Is Propelling Premarket Rise In The ShiftPixy (PIXY) Stock?

What Is Propelling Premarket Rise In The ShiftPixy (PIXY) Stock?

On the last check Friday, shares of the Florida-based staffing enterprise, which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, ShiftPixy Inc. (PIXY) has advanced 9.28% to $3.64 in pre-market trading

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In the last trading session, ShiftPixy stock moved up 33.07% to $3.34. Price for the PIXY stock ranged from $2.55 to $3.85. Pixy’s stock surged as a result of its subsidiary’s involvement in four SPAC registrations at the SEC to raise funds.

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PIXY is planning what?

By providing a next-gen mobile engagement technology, ShiftPixy is revolutionizing employment in the gig economy by providing a disruptive human capital management platform. With PIXY’s platform, businesses with shift-based employees can minimize costs and manage compliance with regulations by connecting with a pre-hire workforce.

PIXY brings expertise as well as a developed system for managing compliance and the demands for equitable employment practices. The management team at PIXY brings it to bear on workers’ compensation defense and compliance programs.

ShiftPixy announced on Thursday that its newly formed wholly-owned subsidiary has been identified as the sponsor of the following four SPACs in their registration statements with the Securities and Exchange Commission (“SEC”):

  • Industrial Human Capital, Inc. plans to offer 25 million units at a price of $10 apiece to the public, consisting of one share of common stock and half of a redeemable warrant; the company plans to use the proceeds to acquire one or more light industry staffing companies.
  • One or more health and nursing staffing companies to be acquired by Vital Human Capital, Inc., which intends to offer 25 million units (one share of common stock plus a half share of a redeemable warrant) to the public for $10 per unit.
  • TechStackery, Inc., proposes to issue 25 million units to the public, or one share of common stock and half of a redeemable warrant, for $10. The company intends to utilize the proceeds acquiring technology staffing companies; and
  • Insurity Capital, Inc. proposes to issue 50 million units, comprised of one common share and a half redeemable warrant, at a price of $10 per unit, and intends to use the savings to acquire one or more commercial insurance companies licensed to do business throughout the United States.

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Finally,

Through these four blank-check firms, ShiftPixy (PIXY) will be raising a total of $1.25 billion. These SPACs will also help the PIXY expand its holdings in diversified segments.

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