secwatch.observer — SEC 8-K summary
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Issuer:     ShiftPixy, Inc. (—)
CIK:        0001675634
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0001477932-24-001473
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ShiftPixy agrees to acquire Neozene for $16.5M in cash and stock
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- Total consideration $16.5M: $5.5M cash at close, $5.5M in stock at 9 months, $5.5M in stock at 18 months contingent on 90% of pre-closing gross revenue.
- Target (Neozene) has annual revenue run rate $58M, EBITDA $3.4M, 94 commercial accounts, and over 35,800 worksite employees.
- Acquisition expected to close in Q2 2024, subject to customary conditions and ShiftPixy securing financing.
- CEO Scott Absher describes this as the first in a series of acquisitions to expand market presence in the Gig Economy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675634/000147793224001473/0001477932-24-001473-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675634/000147793224001473/pixy_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-001473

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer