Law360 (April 29, 2021, 8:12 PM EDT) -- Business staffing firm ShiftPixy Inc. filed initial public offerings for four special purpose acquisition companies that would raise $1.25 billion combined, hoping to acquire and take public multiple businesses, under guidance from Loeb & Loeb LLP.
Miami-based ShiftPixy said it formed a subsidiary that is creating the four SPACs, which are acquisition vehicles that provide target companies an alternate way of going public. SPACs are also referred to as blank-check companies, since the original entity has no operations and does not reveal an acquisition until after a search that can last up to two years following its IPO.
Three ShiftPixy-backed vehicles...
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