TechStackery, a blank check company formed by ShiftPixy targeting staffing solutions in the North American tech sector, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.
The Miami, FL-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, TechStackery would command a market value of $313 million.
The company is led by CEO and Chairman Scott Absher, who currently serves as the CEO of human capital management platform ShiftPixy (Nasdaq: PIXY) and President of Struxurety, and CFO Domonic Carney, who currently serves as the CFO of ShiftPixy.
TechStackery is one of four blank check companies sponsored by ShiftPixy that filed on Thursday, all targeting staffing solutions in various industries. The others are industrial-focused Industrial Human Capital (AXHU), insurance-focused Insurity Capital (FMGU), and healthcare-focused Vital Human Capital (VITU).
TechStackery plans to target companies distressed by the COVID-19 pandemic that provide staffing solutions in North America to clients in the technology sector.
TechStackery was founded in 2021 and plans to list on the NYSE under the symbol TSYU. A.G.P. is the sole bookrunner on the deal.
