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Staffing 360 Solutions Stock Slips On $2.8M Equity offering

Staffing 360 Solutions Inc (NASDAQ:STAF) has entered into a securities purchase agreement with several institutional investors to purchase and sell 1.36…
byAkanksha
August 23, 2021
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  • Staffing 360 Solutions Inc (NASDAQ:STAF) has entered into a securities purchase agreement with several institutional investors to purchase and sell 1.36 million shares at $2.10 per share for gross proceeds of ~$2.8 million.
  • The company has also agreed to issue unregistered warrants to purchase up to an aggregate of 0.68 million shares. The warrants have an exercise price equal to $2.04 per share and will expire five years from the issuance date.
  • The company intends to use the net proceeds from the offering for general working capital purposes.
  • The offering is expected to close on August 25, 2021.
  • Price Action: STAF shares are trading lower by 16.2% at $1.705 on the last check Monday.
 
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