EXCLUSIVE: ShiftPixy CEO Talks Unique SPAC Use Case On 'SPACs Attack'

Scott Absher, the CEO of ShiftPixy Inc PIXY, appeared on Benzinga's YouTube show "SPACs Attack" for an exclusive interview Friday. 

After identifying an interruption in the human capital markets, Absher said he saw an opportunity to build a technology platform that could rebuild the connections between brick-and-mortar operators and the workforce, he told Benzinga.

ShiftPixy offers a technology that balances the needs for business operators who rely on part-time labor and workers who make up the part-time workforce.

ShiftPixy's SPAC Strategy: The company's investment bank Alliance Global Partners asked ShiftPixy if it would consider M&A deals, Absher said, adding that AGP made a SPAC collective possible, Absher said. 

ShiftPixy decided to enter the SPAC market by sponsoring four subsidiary SPACs including TechStackery Inc, Vital Human Capital Inc, Industrial Human Capital Inc and Insurity Capital Inc.

The SPAC collective is unique, as it aims to build "super clients" that will generate explosive revenue, profit and net asset accumulation. 

This is a new way for companies to leverage opportunities in the capital markets without impacting shareholder value, he said, adding that the SPAC collective was the most accretive thing the company could do from a shareholder value standpoint. 

Absher told Benzinga that he thinks the SPAC use case that the company has is extraordinary and will be something that business schools write about for years to come.

Related Link: Why ShiftPixy's Stock Is Surging Today

PIXY Price Action: ShiftPixy has traded as high as $8.60 and as low as $2.02 over a 52-week period. 

At last check Friday, the stock was up 0.79% at $2.55.