Shiftpixy Inc Stock Price, News & Analysis

ShiftPixy, Inc. (Nasdaq: PIXY) has launched Quelliv Inc. laser centers in Florida, offering non-invasive treatments for pain, inflammation, and skin health. This initiative is part of ShiftPixy's aim to expand its operations in the Gig Economy through its unique platform. Quelliv plans to establish 500 centers across the U.S. within two years, with existing locations in West Palm Beach, Naples, and St. Petersburg and new ones in Aventura and Sarasota coming soon. Their technology utilizes Genesis One lasers for effective results.

ShiftPixy, Inc. (NASDAQ: PIXY) announced a $5 million private placement of common stock and warrants with a U.S. institutional investor. The agreement includes the sale of 416,667 shares of common stock and warrants for 833,334 shares, priced at $12.00 each. The funds will support general corporate purposes, including working capital and operating expenses. The private placement is anticipated to close by September 23, 2022. The Company has also agreed to lower the exercise price of existing warrants to $0.01 per share.

ShiftPixy, Inc. (NASDAQ: PIXY) announced the spin-off of ShiftPixy Labs into a wholly-owned subsidiary, which will be dividend to shareholders as of September 8, 2022. This strategic move aims to enhance shareholder value and focus resources on the separate initiatives of both entities. The spin-off is contingent on compliance with Wyoming law and ShiftPixy Labs's qualifications for future listing on the Blockchain-powered Upstream exchange, with a potential IPO planned for October 2022.

ShiftPixy, Inc. (NASDAQ: PIXY) has initiated an application to dual list its shares on Upstream, a trading app for digital securities and NFTs. The dual listing aims to tap into a global digital-first investor base, allowing trades in USDC and other currencies, thereby enhancing liquidity and price discovery. CEO Scott W. Absher emphasized the potential of this move to access worldwide capital markets. ShiftPixy meets the necessary listing standards due to its existing NASDAQ compliance, and approval is pending from MERJ Exchange Limited.

ShiftPixy, Inc. (NASDAQ: PIXY) announced a one-for-one hundred (1:100) reverse stock split effective September 1, 2022. This decision follows a shareholder vote on July 19, 2022, aimed at enhancing the company's stock value. ShiftPixy operates in the Gig Economy, providing a platform for workforce management to help businesses navigate compliance and connect with workers. The company emphasized its innovative approach and experience in human capital services, while also cautioning investors about forward-looking risks associated with the business model and regulatory environment.

ShiftPixy, Inc. (NASDAQ: PIXY) announced a leadership change effective May 24, 2022, as Treasurer and CFO Domonic J. Carney takes a leave of absence and resigns from both ShiftPixy and Industrial Human Capital, Inc. (NYSE: AXH). Manuel Rivera, previously Vice President of Accounting, is appointed as Acting CFO, while Gabriel Rodriguez moves from Director of Finance to CFO of AXH. Carney was credited with significant financial improvements, including eliminating debt and raising over $50 million in equity.

ShiftPixy, Inc. (NASDAQ: PIXY) announced a special distribution of common stock from its 15% stake in Industrial Human Capital, Inc. (NYSE: AXH) to its shareholders of record as of May 17, 2022. Shareholders will receive AXH shares proportional to their holdings in ShiftPixy. The distribution hinges on conditions like AXH’s initial business combination and SEC registration. ShiftPixy's Board believes this move will help avoid registration as an investment company under the Investment Company Act.

ShiftPixy, Inc. (NASDAQ: PIXY) has withdrawn its registration statements for three SPACs to focus on its sponsored SPAC, Industrial Human Capital, Inc. (NYSE: AXH). CEO Scott Absher indicated that this strategic decision aims to allocate resources efficiently in the current market, enhancing the chances of success for Industrial Human Capital’s business combination. ShiftPixy's commitment to developing a platform for gig economy staffing remains firm, emphasizing its mission to adapt to regulatory challenges and streamline workforce management.

ShiftPixy, Inc. (NASDAQ: PIXY) has announced a new non-fungible token (NFT) gamification loyalty program set to launch in 2022, alongside its Ghost Kitchen food brands. This innovative program aims to immerse consumers in augmented reality experiences, integrating Web and app-based gamification. With over 40 million monthly users in the metaverse, ShiftPixy intends to leverage this growth to enhance consumer engagement and revolutionize the dining experience. Despite the excitement, the company acknowledges potential risks and uncertainties associated with the project and its overall business model.