Staffing 360 Solutions Prices $5M Equity Offering - Staffing 360 Solutions (NASDAQ:STAF)

Staffing 360 Solutions Inc STAF has priced a public offering of 1.8 million units, consisting of one share and one warrant to purchase the share.
The company has priced the offering at $2.65 per unit.
The shares and the warrants included in the units can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance.
The warrants have an exercise price of $2.47 per share, will be immediately exercisable, and will expire five years from issuance.
The offering is expected to close on or about Feb. 10, 2023.
The company expects gross proceeds from the offering to be approximately $5 million.
The company intends to use 50% of the net proceeds to repay a portion of the outstanding obligations and the remaining 50% for working capital purposes.
Price Action: STAF shares are trading lower by 3.64% at $2.38 in premarket on the last check Wednesday.