NEW YORK, February 10, 2023 (GLOBE NEWSWIRE) — Staffing 360 Solutions, Inc. ((STAF) (“Staffing 360” or “the Company”), a staffing services company pursuing an international buy-integrate-build strategy through the acquisition of staffing services companies in the United States and the United Kingdom, today announced the completion of its previously announced initial public offering of 1,884,516 units (or prefunded units in lieu thereof), each unit consisting of one common share (or prefunded warrant in lieu thereof) and one common share purchase warrant at an offer price to the public of $2.6532 per unit (or prefunded unit in their place). The warrants have an exercise price of $2.47 per share, are exercisable immediately and will expire five years from issuance.

HC Wainwright & Co. acted as exclusive placement agent for the offering.

The gross proceeds to the Company from the Offering, before deducting placement agent fees and other offering costs payable by the Company, were approximately $5 million. The Company intends to use the net proceeds from the Offering for working capital purposes.

The securities described above were offered pursuant to a registration statement on Form S-1 (File Number 333-269308) originally filed with the Securities and Exchange Commission (“SEC”) on January 20, 2023 and effective on February 7, 2023 The public offering was made only by means of a prospectus, which forms part of the effective registration statement. Electronic copies of the final prospectus may be obtained free of charge from the SEC’s website http://www.sec.gov and may also be requested from HC Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or by email at Placements@hcwco.com.

The Company also agreed to amend certain existing warrants to purchase an aggregate of up to 876,654 common shares at an exercise price of $5.85 per share and an expiration date of January 7, 2028….