Industrial Human Capital Inc. announced that it raised $115 million in its initial public offering.

The IPO included 11.5 million units at a price of $10.00 per unit. The units are listed on the New York Stock Exchange under the ticker symbol “AXH.U” and began trading on Oct. 20.

Industrial Human Capital is a special-purpose acquisition company, or SPAC, backed by ShiftPixy Investments Inc., a wholly owned subsidiary of staffing and talent platform ShiftPixy Inc. (NASDAQ: PIXY). The blank check company intends to focus its search on target businesses that provide staffing solutions to the light industrial sector in North America. It is led by ShiftPixy Chairman and CEO Scott W. Absher.