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Expected Bid Deadline: December 6, 2024
Expected Auction: December 10, 2024
NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Hilco Streambank announced it is seeking offers to acquire the assets of AI-powered SaaS staffing industry platform ShiftPixy, which was previously listed on the NASDAQ under PIXY.
ShiftPixy leverages its cloud-based proprietary software platform to provide on-demand workforce solutions for business clients and shift workers. Through its mobile-first software, the platform connects more than 88,000 shift workers to businesses who are supported by back-end platform support which enables businesses to track KPIs. The company generated more than $17 million of net revenue in fiscal year 2023 from $46.2 million in gross sales and continues to service the needs of its clients and shift workers.
"The platform offers an end-to-end solution for meeting the needs of companies, staffing agencies and shift workers alike," commented Hilco Streambank chief commercial officer Richelle Kalnit. "Utilizing artificial intelligence (AI) employed in the software environment and the mobile app, ShiftPixy recruits, onboards, schedules and manages shift workers based on the often-changing needs of clients in the light industrial, hospitality, and healthcare industries. The proprietary platform serves as a differentiator from the offerings of traditional staffing agencies and offers the ability to provide a nationwide employee base on demand."
More information is available here.
Potential bidders have an opportunity to serve as a stalking horse bidder. The proposed deadline for bids is December 6, 2024. An auction is tentatively scheduled for December 10, 2024. These dates are subject to Bankruptcy Court approval.
Hilco Streambank's retention by ShiftPixy and the sale process outlined herein are subject to the approval of the United States Bankruptcy Court for the Southern District of Florida, which is overseeing the Company's bankruptcy case. Contact Hilco Streambank at project+pixy@hilcoglobal.com for more information.
Richelle Kalnit Chief Commercial Officer & SVP 212.993.7214 | Paul Gleason Analyst 484.844.1858 |
Hilco Streambank expressly disclaims any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from this document or any other written or oral communication transmitted or made available to prospective purchasers. Any and all representations and warranties regarding the information described herein shall be only as negotiated and set forth in a definitive purchase agreement. Any prospective purchaser acknowledges its responsibility to perform a due diligence review prior to consummating a transaction involving the Company. Any materials or information provided, whether written or oral, do not constitute an offer or solicitation of an offer of any kind to buy or sell shares or any other securities described herein in any jurisdiction.
About Hilco Streambank: Hilco Streambank is a market-leading advisory firm specializing in intellectual property valuation, advisory, and monetization. Having completed numerous transactions, including sales in publicly reported transactions, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, technology, and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital equity investments.
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SOURCE Hilco Streambank