ShiftPixy’s Industrial Human Capital in an amended S-1 filing lowered its deal size by 33% to 10 million units, down from an amended 15 million units in August, which was a 40% drop from the SPAC’s initial registration of 25 million units in April.
A unit now consists of one share and a 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 has applied to list on the NYSE under AXHU. Read more.
