ShiftPixy Files for Reg A+ Mini-IPO with Plans to List on NASDAQ — WR Hambrecht + Co will act as sole underwriter
San Francisco, CA, May 31, 2016 – For immediate release: WR Hambrecht + Co announces that on May 31, 2016, ShiftPixy publicly filed a Form 1-A Offering of common stock under SEC Regulation A. The offering will be conducted on a best-efforts basis by WR Hambrecht + Co as the sole underwriter. The company plans to list its common stock on The NASDAQ Capital Market under the symbol “PIXY” following the offering.
ShiftPixy is a temporary staffing service provider that contracts with clients with large contingent part-time workforce demands, primarily in the restaurant and hospitality industry, to become the employer and provider of workers to these clients primarily for part-time shift work. ShiftPixy addresses significant temporary staffing management and compliance challenges and significant financial risks of non-compliance presented by Affordable Care Act (ACA) to its target market of middle-tier (100-500) employees) restaurant and hospitality business.
ShiftPixy currently services approximately 155 clients and approximately 3,354 worksite employees. For more information on the ShiftPixy Regulation A+ IPO, visit their Regulation A+ IPO summary page.
“Our team is passionate about growth companies such as ShiftPixy because they represent a great opportunity for all classes of investors,” said John Hullar, Managing Partner, WR Hambrecht + Co. “We are pleased to bring Reg A+ Mini-IPOs to investors through an efficient and transparent web-enabled platform.”
Regulation A+ Creates New Options for Investors
Reg A+ was intended to help revive the small cap market by allowing early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and gives the investor the opportunity to participate in the IPO for these potentially high growth companies. Other advantages include a more open selling process with the opportunity to “Test the Waters,” and the transparency of pre-IPO research available to all investors. Seeking a broad audience of investors, Reg A+ Mini-IPOs may include novel selling practices such as the use of crowd funding, and other internet-enabled methods. Because the securities offered under Reg A+ are freely tradable, Over-the- Counter ATSes (such as OTCQX, provided by OTC Markets Group) and national exchanges like NYSE and NASDAQ will be used to provide secondary market liquidity.
WRH+Co has Developed a Web-Enabled Platform for Investors
WRH+Co has developed a hybrid, web-enabled platform for public transactions that gives interested investors access to the offering circular and marketing materials, as well as the ability to register their interest level and ultimately even invest directly online if they choose. Please see www.wrhambrecht.com for access to the offering circulars and marketing materials for all current offerings.
ShiftPixy is a temporary staffing service provider that contracts with clients with large contingent part-time workforce demands, primarily in the restaurant and hospitality business to become the employer and provider of workers to these clients primarily for part-time shift work. ShiftPixy addresses significant temporary staffing management and compliance challenges and significant financial risks of non-compliance presented by Affordable Care Act (ACA) to its target market of middle-tier (100-500 employees) restaurant and hospitality business. ShiftPixy currently operates in Los Angeles/Southern California, but plans to open additional physical offices in San Francisco, New York, Chicago, Dallas, Orlando, Atlanta, Philadelphia and Las Vegas upon completion of its offering, assuming the maximum offering being raised. These markets collectively account for, or allow ShiftPixy to cover 53% of the employers with 50 or more employees in this sector. (Statistics of US Businesses Employment and Payroll 2012; US Census Bureau). ShiftPixy currently services approximately 155 clients and approximately 3,354 worksite employees.
About WR Hambrecht + Co
WR Hambrecht + Co focuses on raising growth capital for a variety of different enterprises. Like its predecessor firm, Hambrecht & Quist, WRH+Co seeks to identify high prospects growth-stage companies, and then enable access to the capital necessary to fund development, marketing and infrastructure so that these companies can achieve their full potential. WRH+Co’s Regulation A+ Mini-IPO strategy is a continuation of Bill Hambrecht’s legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.
The offering is being made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed with the Securities and Exchange Commission but has not yet become qualified. You may obtain a copy of the most recent version of the preliminary offering circular with the following link:
These securities may not be sold nor may offers to buy be accepted prior to the time the offering statement is qualified. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
No money or other consideration is being solicited in connection this press release, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement on Form 1-A is qualified pursuant to Regulation A of the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any person’s indication of interest involves no obligation or commitment of any kind.