On Thursday, the staffing services provider ShiftPixy (PIXY) saw its stock soar by as much as 33%. This morning, the stock has continued in the same vein and has clocked gains of 6% so far in the premarket trading period.
The rally in the stock came about after it emerged yesterday that the company is currently aiming to raise as much as $1.25 billion by way of four black check companies. The details emerged yesterday in a regulatory filing made by the company.
The four companies, which are special purpose acquisition companies (SPACs), include Vital Human Capital Inc, TechStackery Inc, and Industrial Human Capital Inc.
Each of these SPACs are looking to raise $250 million through the sales of warrants and shares on the New York Stock Exchange. The other SPAC is Insurity Capital Inc and it is looking to raise $500 million. In light of this development, it might be a good idea for investors to keep an eye on the ShiftPixy stock over the coming days.