Industrial Human Capital, a SPAC formed by ShiftPixy, today in its fifth amended S-1 filing cut the planned IPO to 15 million units, down from the 25 million units initially registered in April.
Three other ShiftPixy SPACs that also registered with the SEC in April downsized their proposed offerings in filings today.
A unit will still consist of one share of common stock and one-half of one redeemable warrant, with whole warrants exercisable for a share at $11.50.
Industrial Human Capital in the filing said, “We intend to focus on private companies distressed by the economic downturn caused by the COVID-19 pandemic that provide staffing solutions to clients in the light industrial sector in North America.”
The blank-check company is led by Chairman and CEO Scott Absher, who is also president, CEO and director of ShiftPixy.
The SPAC said it has applied to list on the NYSE under AXHU. Read more.
