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Pinnacle Food Group (PFAI), a provider of smart hydroponic growing systems and technical support services, has announced the pricing of its initial public offering (IPO) of 1,800,000 Class A common shares at $4.00 per share.
The company expects to raise gross proceeds of $7.2 million from the offering and has granted underwriters a 45-day option to purchase up to 270,000 additional shares. The Class A common shares will trade on the Nasdaq Capital Market under the symbol 'PFAI' starting April 22, 2025, with the offering expected to close on April 23, 2025.
The net proceeds will be used for expanding hydroponic growing systems functionality, business development, and working capital. Craft Capital Management serves as the representative underwriter for this offering.
