Labor Smart registers $28.99 million of stock for public sale of units

Funds used for acquisitions, working capital and corporate purposes

By Devika Patel

Knoxville, Tenn., Feb. 6 – Labor Smart, Inc. will conduct a public offering of units with a 45-day greenshoe option, according to a Form S-1 filed Friday with the Securities and Exchange Commission. The company has registered up to $28.99 million of stock.

The units will each consist of one common share and one five-year warrant. The warrant will be exercisable at 125% of the per-unit price.

Proceeds will be used for acquisitions, working capital and general corporate purposes.

The Powder Springs, Ga., company provides unskilled and semi-skilled temporary workers to its clients.

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