MIAMI – (COMMERCIAL THREAD) – Industrial Human Capital, Inc. (the “Company”) today announced the closing of its initial public offering of 11,500,000 units at a price of $ 10.00 per unit. This includes the full exercise by the underwriters of their over-allotment option to purchase up to 1,500,000 additional units. The Units are listed on the New York Stock Exchange (“NYSE”) and began trading under the symbol “AXHU” on October 20, 2021.

Each unit consists of one common share of the Company and one redeemable warrant, with each entire warrant exercisable to purchase one common share at a price of $ 11.50 per share (subject to adjustment) . Once the securities comprising the Units begin to trade separately, the Common Shares and the Warrants should be listed on the New York Stock Exchange under the symbols “AXH” and “AXHW”, respectively.

Industrial Human Capital, Inc. is a blank check company incorporated for the purpose of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more companies. The Company intends to focus its research on target companies that provide staffing solutions to the light industry sector in North America. The Company is sponsored by ShiftPixy Investments, Inc., a wholly owned subsidiary of ShiftPixy, Inc., and is headed by Scott W. Absher, its President and CEO.

The Company intends to use the net proceeds of the offering and the concurrent private placement of warrants to complete the initial business combination of the Company.

AGP / Alliance Global Partners acted as the sole accounting manager of the IPO and Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as co-manager of the offering.

A registration statement relating to these securities was declared effective by the United States Securities and Exchange Commission (the “SEC”) on October 19, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of that state or jurisdiction. No securities regulatory authority has approved or disapproved of the contents of this press release.

The offer is being made only by means of a prospectus, copies of which can be obtained from AGP / Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624- 2060, or by email at [email protected] or by visiting EDGAR on the SEC’s website at www.sec.gov.

Caution Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements”, particularly with respect to the initial public offering, the intended use of the net proceeds thereof and the search for an initial consolidation of companies. No guarantee can be given that the net proceeds of the offer will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and final prospectus for the initial public offering filed with of the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.

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