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Staffing 360 Solutions’ universal shelf registration statement declared effective

Staffing 360 Solutions, Inc. has announced that its universal shelf registration statement originally filed on Form S-3 on 4th January 2016 with the United States Securities and Exchange Commission has been declared effective.

"We are pleased to announce the effectiveness of our Form S-3," said Brendan Flood, executive chairman at Staffing 360 Solutions. "Although the timing of potential raises through the S-3 are not set in stone, they will be strategically implemented to be as advantageous as possible for the company and for our shareholders. We believe that having an effective universal shelf registration statement at our disposal will provide Staffing 360 Solutions with maximum flexibility to fund our strategic business opportunities through the public capital markets. It also allows us to embark on the process of rebuilding our balance sheet to deliver optimal support to our business and to make it less debt intensive."

"This is truly a transformative event on several levels. In addition to providing future funding for our $170 million run-rate business, the S-3 registers common stock and shares underlying other securities held by many of our most loyal shareholders and investors in Staffing 360's previous capital raises, helping improve our free float. Now that the S-3 is effective, we will be utilizing the universal shelf along with several other developments that are in the works, to launch a company-wide strategic initiative to reduce our debt, strengthen our balance sheet, and rejuvenate the capital structure of the Company. This is a major inflection point for Staffing 360 Solutions."

Staffing 360 Solutions says the universal shelf registration statement provides the ability for it to offer and sell, from time to time, up to $25m of securities in the form of senior, subordinated or convertible debt securities, warrants, units, rights, common and preferred stock or any combination thereof. The terms of any securities offered under the registration statement, and intended use of proceeds, will be established at the times of the offerings and will be described in prospectus supplements filed with the SEC at the times of the offerings.

In addition, it stated that the registration statement is registering the issuance by the company of shares of its common stock and shares of common stock underlying warrants and other securities issued in the company's various private offerings and capital raises since inception.

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