Pineapple Financial Inc. (PAPL) Announces Pricing of $1.5 Million Public Offering
Pineapple Financial Inc. (NYSE American: PAPL), a Canadian mortgage technology and brokerage firm, has announced the pricing of a $1.5 million public offering. The offering consists of 10 million units priced at $0.15 per unit, with each unit comprising one common stock share and one warrant to purchase an additional share. The offering is expected to close around May 5, 2025.
D. Boral Capital LLC is serving as the Exclusive Placement Agent, with legal counsel provided by Sichenzia Ross Ference Carmel LLP for Pineapple and Lucosky Brookman LLP for D. Boral Capital. The offering is being conducted under the Company's Form S-1 registration statement, which was declared effective by the SEC on May 1, 2025.
Pineapple Financial Inc. (NYSE American: PAPL), un'azienda canadese specializzata in tecnologia ipotecaria e intermediazione, ha annunciato il prezzo di un'offerta pubblica da 1,5 milioni di dollari. L'offerta comprende 10 milioni di unità al prezzo di 0,15 dollari per unità, con ogni unità composta da un'azione ordinaria e un warrant per acquistare un'azione aggiuntiva. La chiusura dell'offerta è prevista intorno al 5 maggio 2025.
D. Boral Capital LLC agisce come Agente di Collocamento Esclusivo, con consulenza legale fornita da Sichenzia Ross Ference Carmel LLP per Pineapple e da Lucosky Brookman LLP per D. Boral Capital. L'offerta viene effettuata nell'ambito della dichiarazione di registrazione Form S-1 della Società, dichiarata efficace dalla SEC il 1° maggio 2025.
Pineapple Financial Inc. (NYSE American: PAPL), una empresa canadiense de tecnología hipotecaria y corretaje, ha anunciado el precio de una oferta pública de 1.5 millones de dólares. La oferta consta de 10 millones de unidades a un precio de 0.15 dólares por unidad, cada unidad incluye una acción común y un warrant para comprar una acción adicional. Se espera que la oferta cierre alrededor del 5 de mayo de 2025.
D. Boral Capital LLC actúa como Agente Exclusivo de Colocación, con asesoría legal proporcionada por Sichenzia Ross Ference Carmel LLP para Pineapple y Lucosky Brookman LLP para D. Boral Capital. La oferta se realiza bajo la declaración de registro Formulario S-1 de la Compañía, que fue declarada efectiva por la SEC el 1 de mayo de 2025.
Pineapple Financial Inc. (NYSE American: PAPL)는 캐나다의 모기지 기술 및 중개 회사로, 150만 달러 규모의 공개 모집 가격을 발표했습니다. 이번 모집은 1,000만 단위로, 단위당 가격은 0.15달러이며, 각 단위는 보통주 1주와 추가 주식 구매 권리(워런트) 1주로 구성됩니다. 모집 마감 예정일은 2025년 5월 5일입니다.
D. Boral Capital LLC가 독점 배정 대리인으로 활동하며, Pineapple은 Sichenzia Ross Ference Carmel LLP가, D. Boral Capital은 Lucosky Brookman LLP가 법률 자문을 제공합니다. 이번 모집은 회사의 Form S-1 등록 서류에 따라 진행되며, 해당 서류는 2025년 5월 1일 SEC에서 효력이 발생했습니다.
Pineapple Financial Inc. (NYSE American: PAPL), une société canadienne spécialisée dans la technologie et le courtage hypothécaire, a annoncé le prix d'une offre publique de 1,5 million de dollars. L'offre comprend 10 millions d'unités au prix de 0,15 dollar par unité, chaque unité comprenant une action ordinaire et un bon de souscription permettant d'acheter une action supplémentaire. La clôture de l'offre est prévue aux alentours du 5 mai 2025.
D. Boral Capital LLC agit en tant qu'agent de placement exclusif, avec un conseil juridique assuré par Sichenzia Ross Ference Carmel LLP pour Pineapple et Lucosky Brookman LLP pour D. Boral Capital. L'offre est réalisée dans le cadre de la déclaration d'enregistrement Formulaire S-1 de la société, déclarée effective par la SEC le 1er mai 2025.
Pineapple Financial Inc. (NYSE American: PAPL), ein kanadisches Unternehmen für Hypothekentechnologie und Brokerage, hat die Preisfestsetzung eines 1,5 Millionen Dollar schweren öffentlichen Angebots bekannt gegeben. Das Angebot umfasst 10 Millionen Einheiten zu einem Preis von 0,15 Dollar pro Einheit, wobei jede Einheit aus einer Stammaktie und einem Optionsschein zum Kauf einer zusätzlichen Aktie besteht. Der Abschluss des Angebots wird für den 5. Mai 2025 erwartet.
D. Boral Capital LLC fungiert als exklusiver Platzierungsagent, mit rechtlicher Beratung durch Sichenzia Ross Ference Carmel LLP für Pineapple und Lucosky Brookman LLP für D. Boral Capital. Das Angebot erfolgt im Rahmen der Form S-1-Registrierungserklärung des Unternehmens, die von der SEC am 1. Mai 2025 für wirksam erklärt wurde.
- Access to $1.5 million in new capital through the public offering
- Each unit includes a warrant, providing potential additional value for investors
- Significant dilution for existing shareholders with 10 million new units being offered
- Low unit pricing at $0.15 might indicate challenging market conditions or company valuation
Insights
Pineapple Financial raises $1.5M through heavily dilutive offering at $0.15 per unit, signaling capital needs with significant shareholder impact.
Pineapple Financial's announcement reveals a $1.5 million capital raise through a public offering of 10 million units at $0.15 per unit. Each unit bundles one common share with one warrant, effectively doubling the potential dilution if all warrants are eventually exercised. The structure merits attention - when companies pair shares with full warrants (1:1 ratio), it typically indicates they needed to sweeten the deal to attract investor interest.
The $0.15 pricing is particularly notable for a NYSE American-listed company. This low unit price will result in substantial dilution for existing shareholders, though the exact percentage depends on the company's outstanding share count prior to this offering. The offering represents a significant expansion of Pineapple's share base to secure a relatively modest capital injection.
The timing aspects are also revealing - the registration statement was filed on April 25, declared effective on May 1, and pricing announced just one day later on May 2, with closing expected by May 5. This condensed timeline suggests an expedited process to secure funding. D. Boral Capital's role as exclusive placement agent rather than using traditional underwriters indicates this is structured as a registered direct offering targeted at specific investors.
For a mortgage technology firm, this capital structure decision comes at a time when both the technology and mortgage sectors face challenging market conditions. While securing additional capital provides operational runway, the terms of this offering will significantly impact the company's capital structure and existing shareholders.
Toronto, Ontario--(Newsfile Corp. - May 2, 2025) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or the "Company"), a leading Canadian mortgage technology and brokerage firm, today announced the pricing of a public offering of 10,000,000 units, each unit consisting of either one share of the Company's common stock and one warrant to purchase one share of the Company's common stock at a public offering price of
The offering is expected to close on or about May 5, 2025, subject to customary closing conditions.
D. Boral Capital LLC ("D. Boral Capital") is acting as the Exclusive Placement Agent for the offering. Sichenzia Ross Ference Carmel LLP is acting as legal counsel to the Company, Lucosky Brookman LLP is acting as legal counsel to D. Boral Capital.
The offering is being conducted pursuant to the Company's registration statement on Form S-1, as amended May 1, 2025 (File No. 333-286783), previously filed April 25, 2025 with the Securities and Exchange Commission ("SEC") that was declared effective by the SEC on May 1, 2025. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from D. Boral Capital LLC 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at info@dboralcapital.com or telephone at (212) 970-5150.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Pineapple Financial
Pineapple Financial Inc. (NYSE American: PAPL) is a leading Canadian mortgage technology and brokerage company focused on delivering the ultimate experience for mortgage brokers, lenders, and clients. Pineapple provides cutting-edge tools, marketing automation, analytics, and proprietary technology designed to simplify and enhance the mortgage process. With a growing national footprint and a commitment to innovation, Pineapple is setting a new standard for excellence in the mortgage industry.
For more information, please visit www.gopineapple.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
Media Contact:
For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.
Email: shubha@gopineapple.com
Related Links:
http://empoweredbypineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Pineapple Financial Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250597
FAQ
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