ShiftPixy Inc. (NASDAQ: PIXY) delayed its planned one-for-24 reverse stock split until Oct. 14, the company announced. It had planned for the reverse split to take place on Sept. 30.

“The delay is necessitated by the principal shareholder’s plans to effect charitable donations of his shares of the company’s common stock and coordinating the donations with the recipient charities prior to the effectiveness of the reverse stock split,” the company said in a statement.

ShiftPixy, based in Sunrise, Florida, received a letter on Sept. 15 from Nasdaq that shares in the company had closed below the marketplace’s $1 per share minimum for the previous 30 consecutive business days, according to a regulatory filing. The letter cautioned the company could be subject to delisting if share prices remain below $1.

Shares in ShiftPixy were up 39.2% to $1.13 as of 10:50 a.m. Eastern time today, according to FT.com.