ShiftPixy Inc (NASDAQ:PIXY) closed with a mild gain in a very narrow range day Friday. What is in store for next week?
PIXY stock went up 2.21% to close at $2.31 on Friday. The stock made a high and low of $2.34 and $2.23 respectively for the session. Volume was 901,942 well below its 30 day average of 6 million shares. 2508 trades took place.
ShiftPixy Issued News
Friday morning, the PIXY issued news. Let’s a take a look at the highlights:-
ShiftPixy (PIXY) Announces Pricing of $12 Million Private Placement Priced At-The-Market under Nasdaq Rules
- PIXY entered into a securities purchase agreement with a large institutional investor for a private placement of common stock and warrants exercisable for common stock expected to result in gross proceeds to the company of approximately $12 million before deducting placement agent commissions and other transaction-related expenses payable by the company.
- In the private placement, the company has agreed to sell (i) 2,320,000 shares of its common stock together with warrants to purchase up to 2,320,000 shares of common stock, and (ii) 2,628,453 pre-funded warrants with each pre-funded warrant exercisable for one share of common stock,
- Each share of common stock and accompanying common warrant are being sold together at a combined offering price of $2.425, and each pre-funded warrant and accompanying common warrant are being sold together at a combined offering price of $2.4249.
PIXY is currently trading below its 20 day moving average, 50 and 200 MAs. The stock is down 9% over the last 5 days, up 5.48% for the month, and down 61.69% this year. Pivot points to watch are 2.32, 2.38, and 2.49 above and 2.21 2.16 and 2.05 below. Friday was an inside bar on light volume. The stock has support at 2.00.