Staffing 360 Solutions (STAF) Prices 21.86M Share Common Offering at $0.90/Sh

Staffing 360 Solutions, Inc. (NASDAQ: STAF), a staffing company executing an international buy-integrate-build strategy through the acquisition of staffing organizations in the United States and the United Kingdom, today announced the pricing of a public offering of 21,855,280 shares of its common stock (or common stock equivalents in lieu thereof) at a price to the public of $0.90 per share of common stock (or common stock equivalent). The aggregate gross proceeds from this offering are expected to be approximately $19.7 million, before deducting placement agent fees and other estimated offering expenses payable by Staffing. The offering is expected to close on or about February 12, 2021, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

The Company intends to use 75% of the net proceeds from this offering to redeem a portion of its outstanding note due September 30, 2022, and 25% of the net proceeds from this offering to redeem a portion of its Series E Preferred Stock. The offering is being made under an effective registration statement on Form S-1 (File No. 333-252059) filed with the Securities and Exchange Commission (the “SEC”) and declared effective on February 9, 2021.

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