ShiftPixy Inc. PIXY,-13.39% shares plunged by 34.3%, leading all premarket losers on Wednesday. The workforce management software firm’s equity offering valued its stock at a steep discount. The company raised $3.1m by selling 2.07million equity units for $1.50, each unit containing 2.07million common shares as well as a warrant that allows the buyer to purchase one common share with a $1.50 exercise price. The exercise price is 40% lower than Tuesday’s $2.39 closing price. The warrants can be exercised immediately, but they expire after five years. ShiftPixy plans to use proceeds from the offering in general corporate purposes. The stock is down 88.6% for the year so far, while S&P 500 is up 15.6%.