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Industrial Human Capital, Inc.

CIK 0001855302

Cash in trust

$116.8M

$116,810,645

Trust per share

$10.16

Redemption value

IPO

Oct 2021

$113.9M raised

Combination deadline

Not disclosed

Filings on record

60

Latest Dec 1, 2022

Overview

Industrial Human Capital, Inc. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001855302. It completed its initial public offering in Oct 2021, raising $113.9M in gross proceeds. The vehicle is sponsored by ShiftPixy through ShiftPixy Investments, Inc. The mandate targets industrials, business services. Deadline lapsed without a deal; trust returned to public shareholders.

we intend to focus our search on companies that provide staffing solutions to the light industrial sector in North America.
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what Industrial Human Capital, Inc. has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.

  • Trust versus the $10 unit

    The trust holds $10.16 per public share, 1.6% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.

  • Warrant coverage

    Each unit carried one warrant per unit. Warrants are dilution deferred: they cost the holder nothing until exercised, and they overhang the post-combination share count. Thinner coverage is generally a sign of a stronger book at pricing.

  • Underwriting

    A.G.P./Alliance Global led the offering. It has been named on 17 SPAC IPOs, book-running 17 of them, and 14.3% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.

SEC filing history

Free tier: filings older than 24 hours
  • 25-NSE

    Notification of delisting

    Accession 0000876661-22-001056

    Dec 1, 2022

    3y ago

    Open filing
  • 8-K

    Other events

    Items 5.03, 8.01 · Accession 0001104659-22-118374

    Nov 14, 2022

    3y ago

    Open filing
  • 8-K

    Submission of matters to a vote of security holders; Other events

    Items 5.07, 8.01, 9.01 · Accession 0001104659-22-110304

    Oct 20, 2022

    3y ago

    Open filing
  • DEF 14A

    Definitive proxy statement

    Accession 0001104659-22-101228

    Sep 19, 2022

    4y ago

    Open filing
  • PRE 14A

    PRE 14A

    Accession 0001104659-22-098195

    Sep 7, 2022

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001410578-22-002429

    Aug 12, 2022

    4y ago

    Open filing
  • 8-K/A

    Other events

    Items 5.02, 8.01, 9.01 · Accession 0001104659-22-086858

    Aug 8, 2022

    4y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 9.01 · Accession 0001104659-22-085612

    Aug 3, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Item 5.02 · Accession 0001104659-22-082790

    Jul 26, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Item 5.02 · Accession 0001104659-22-081010

    Jul 20, 2022

    4y ago

    Open filing
  • 8-K/A

    Other events

    Items 5.02, 8.01, 9.01 · Accession 0001104659-22-079595

    Jul 13, 2022

    4y ago

    Open filing
  • 8-K

    Other events

    Items 5.02, 8.01, 9.01 · Accession 0001104659-22-079298

    Jul 12, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Items 5.02, 9.01 · Accession 0001104659-22-074763

    Jun 27, 2022

    4y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001104659-22-067628

    Jun 2, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Items 5.02, 9.01 · Accession 0001104659-22-064303

    May 24, 2022

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001410578-22-001745

    May 16, 2022

    4y ago

    Open filing
  • 10-K/A

    10-K/A

    Accession 0001410578-22-001507

    May 13, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Item 4.02 · Accession 0001104659-22-060533

    May 13, 2022

    4y ago

    Open filing
  • 10-K

    Annual report

    Accession 0001410578-22-000525

    Mar 25, 2022

    4y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001104659-22-012858

    Feb 7, 2022

    4y ago

    Open filing
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001846718-22-000017

    Feb 2, 2022

    4y ago

    Open filing
  • SC 13G/A

    SCHEDULE 13G/A

    Accession 0001376474-21-000451

    Dec 10, 2021

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001410578-21-000470

    Dec 3, 2021

    4y ago

    Open filing
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001461790-21-000063

    Nov 4, 2021

    4y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001376474-21-000385

    Nov 3, 2021

    4y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001104659-21-132772

    Nov 2, 2021

    4y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001104659-21-132770

    Nov 2, 2021

    4y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 9.01 · Accession 0001104659-21-131137

    Oct 28, 2021

    4y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001104659-21-130581

    Oct 27, 2021

    4y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Other events

    Items 1.01, 3.02, 5.03, 8.01, 9.01 · Accession 0001104659-21-129577

    Oct 25, 2021

    4y ago

    Open filing

Industrial Human Capital, Inc.: questions answered

What is Industrial Human Capital, Inc.?

Industrial Human Capital, Inc. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001855302. It completed its initial public offering in Oct 2021, raising $113.9M in gross proceeds. The vehicle is sponsored by ShiftPixy through ShiftPixy Investments, Inc. The mandate targets industrials, business services. Deadline lapsed without a deal; trust returned to public shareholders.

How much does Industrial Human Capital, Inc. hold in trust?

Approximately $116,810,645, or about $10.16 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

When must Industrial Human Capital, Inc. complete a merger?

No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.

What happens if Industrial Human Capital, Inc. does not find a target in time?

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Can I redeem shares in Industrial Human Capital, Inc., and at what price?

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.16 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

Is the trust value the same as the share price for Industrial Human Capital, Inc.?

No. Trust per share is a disclosed, contractual figure: what a redeeming holder receives. The market price is whatever the shares change hands at, which can sit above the trust when a deal is well received or below it when the market doubts one will close. We do not have a current quote for this vehicle, so no spread is shown.

How much dilution do Industrial Human Capital, Inc.'s founder shares and warrants create?

Each unit also carried one warrant per unit, which is dilution deferred until exercise. Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.

Who sponsors Industrial Human Capital, Inc., and what is their track record?

ShiftPixy Investments, Inc is the sponsor entity, part of the ShiftPixy franchise. This is the only vehicle we have attributed to that sponsor.

Which banks underwrote the Industrial Human Capital, Inc. IPO?

A.G.P./Alliance Global, Brookline, Benchmark Company. A.G.P./Alliance Global was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Industrial Human Capital, Inc. a good investment?

That is not a question this site answers. Industrial Human Capital, Inc. is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Where does this Industrial Human Capital, Inc. data come from?

Filings Industrial Human Capital, Inc. submitted to the SEC under CIK 0001855302: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.

Compiled by the SPACListing research desk

Last reconciled Sep 4, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.

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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.