shiftpixy inc shares rose 20 to 1646 in midday trading thursday rebounding from a wednesday loss of 37 the company said wednesday it entered into a securitiespurchase agreement with a single us institutional investor for a private placement of stock and warrants the stock hit its 52week low of 1106 on sept 7 and is down 86 year to date the company expects to see proceeds of 5 million before deducting placement agent commissions and other transactionrelated expenses in the private placement shiftpixy has agreed to sell 417000 shares together with warrants to buy up to 833000 shares each share of common stock and two accompanying common warrants are being sold together at a combined purchase price of 12 the common warrants will have an exercise price of 12 a share would be exercisable immediately and would expire seven years from the date of issuance the company intends to use the proceeds from the private placement for general corporate purposes including working capital operating expenses and capital expenditures the private placement is expected to close on or about friday