If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. The information provided in this release and accompanying video presentation includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. 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. ShiftPixy (PIXY) 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. ShiftPixy expects that entry into client service agreements with Industrial Human Capital provide an opportunity for increased annual revenue of as much as $1 billion, and accretive pre-tax annual earnings of $50 million. “The potential impact on ShiftPixy’s income, profits and asset value is extraordinary and the culmination of a great deal of innovation and years of hard work.” “The ShiftPixy platform was designed to rapidly scale and support high staffing industry volumes, and we see an opportunity to leverage the ShiftPixy technology platform to underpin what we anticipate will be a significant consolidation event for the industry,” said ShiftPixy Co-Founder and CEO Scott Absher. ShiftPixy hopes to enter into client service agreements with Industrial Human Capital to supply its human capital needs, which ShiftPixy believes will lead to assembly of one of the largest ever light industrial staffing collectives in the market. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be listed on the NYSE under the symbols “AXH” and “AXHW,” respectively. The units are listed on the New York Stock Exchange (“NYSE”) and began trading under the ticker symbol “AXHU” on October 20, 2021.
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This includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 1,500,000 units. Pursuant to the IPO, IHC sold 11,500,000 units to the public at a price of $10 per unit, with each unit consisting of one share of IHC common stock and one redeemable warrant, with each whole warrant exercisable to purchase one share of IHC common stock at a price of $11.50 per share, subject to adjustment. (“IHC”), a Special Purpose Acquisition Companies (SPAC) sponsored by ShiftPixy through its wholly-owned subsidiary, ShiftPixy Investments, Inc. (NASDAQ: PIXY), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the successful completion of the initial public offering (“IPO”) of the common stock of Industrial Human Capital, Inc. – Targeting a 100,000 employee collective into the ShiftPixy ecosystem – – Potentially adds substantial scale to the ShiftPixy platform – – Proceeds to build light industrial staffing industry roll-up –
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