“Item 1.01 Entry into a Material Definitive Agreement. The salary increases and discretionary bonuses described above are contingent upon the consummation of the initial public offering of a special purpose acquisition company sponsored by ShiftPixy Investments Inc., a wholly-owned subsidiary of the Company, which condition was satisfied by the closing of the initial public offering of Industrial Human Capital Inc. Carney and Gans, which shall be payable on January 1, 2022. Absher, of which 50% was payable upon Board approval and 50% shall be payable on January 1, 2022, and $150,000 to each of Messrs. In addition, the Board approved discretionary bonuses of $500,000 to Mr. Gans, the Company’s General Counsel, to $750,000 on an annual basis, from $474,152 and Amanda Murphy, the Company’s current Director of Operations and a director, to $500,000 on an annual basis, from $264,152, to coincide with her promotion to the position of Chief Operating Officer of the Company, all of which will be effective as of January 1, 2022. Carney, the Company’s Chief Financial Officer, to $750,000 on an annual basis, from $474,152 Robert S. Absher, the Company’s Chief Executive Officer and a director, to $1,000,000 on an annual basis, from $764,673 Domonic J. (the “Company”) approved salary increases for Scott W. On October 22, 2021, the board of directors (the “Board”) of ShiftPixy, Inc. "Departure of Directors or Principal Officers Election of Directors Appointment of Certain Officers Compensatory Arrangements of Certain Officers. For further information regarding the possible methods by which the shares may be distributed, see “Plan of Distribution” beginning on page 22 of this prospectus."
PIXY STOCKTWITS REGISTRATION
Our registration of the shares of Common Stock covered by this prospectus does not mean that the selling shareholders will offer or sell any of the shares. The timing and amount of any sale are within the sole discretion of the selling shareholders. The selling shareholders may sell these shares through public or private transactions at market prices prevailing at the time of sale or at negotiated prices. To the extent the Warrants are exercised for cash, if at all, we will receive the exercise price of the Warrants. We will not receive any of the proceeds, but we will incur expenses in connection with the offering. The selling shareholders will receive all of the proceeds from any sales of the shares offered hereby. We are registering the resale of the shares of Common Stock covered by this prospectus as required by the Purchase Agreement and Placement Agent Agreement. (“ShiftPixy,” “we,” “us” or the “Company”) listed beginning on page 18 of this prospectus may offer and resell under this prospectus (i) up to 2,850,000 shares of our common stock, par value $0.0001 per share (the “Common Stock”), and (ii) up to 12,573,200 shares of our Common Stock issuable upon exercise of warrants, including pre-funded warrants and warrants issued by the Registrant to A.G.P./Alliance Global Partners and its affiliates for compensation as placement agent in connection with the transactions described herein (collectively, the “Warrants”) acquired by the selling shareholders under the Securities Purchase Agreement (the “Purchase Agreement”), dated August 31, 2021, by and among the Company and the investor listed therein (the “Investor”) and the Placement Agent Agreement, dated August 31, 2021, by and between the Company and A.G.P./Alliance Global Partners (the “Placement Agent Agreement”). The selling shareholders of ShiftPixy, Inc.
0 kommentar(er)
