Pineapple Financial Inc. Stock Price, News & Analysis

Pineapple Financial (NYSE: PAPL), a Canadian tech-focused mortgage brokerage, has closed a registered direct offering raising $1 million in gross proceeds. The offering consisted of 1,666,667 common shares and pre-funded warrants, priced at $0.60 per share (or $0.5999 per pre-funded warrant). D. Boral Capital served as the exclusive placement agent. The offering was conducted under a shelf registration statement on Form S-3 that was declared effective by the SEC on October 29, 2024.

Pineapple Financial (NYSE: PAPL), a Canadian tech-focused mortgage brokerage, has announced a registered direct offering of approximately $1.0 million worth of common shares at $0.60 per share to an institutional investor. The offering, expected to close around November 15, 2024, will generate gross proceeds of approximately $1.0 million before deducting placement agent fees and expenses.

D. Boral Capital serves as the exclusive placement agent, with Sichenzia Ross Ference Carmel LLP acting as U.S. legal counsel. The offering is made pursuant to an effective S-3 registration statement filed with the SEC on October 29, 2024.

Pineapple Financial (NYSE American: PAPL) has launched Renewals+, an enhancement to its PineappleONE platform, designed to optimize mortgage renewals and boost customer loyalty. The platform leverages data analytics and personalization tools to target Canada's $300 billion mortgage renewal market. Key achievements include a 20% increase in annual renewals and a repeat business rate 30% higher than industry standards. The platform features predictive analytics for proactive client engagement, tailored communication tools, and automated reminders to streamline the renewal process.

Pineapple Financial (NYSE: PAPL), a Canadian tech-focused mortgage brokerage, has announced a $1.0 million registered direct offering of common shares through a securities purchase agreement with an institutional investor. The offering is expected to close around November 15, 2024, with D. Boral Capital serving as the exclusive placement agent. The gross proceeds are estimated at $1.0 million before deducting placement agent fees and offering expenses. The offering is being made under a shelf registration statement previously declared effective by the SEC.

Pineapple Financial Inc. (NYSE American: PAPL) announces the addition of two new affiliate brokerages, Luxe Lending Corp. and Mortgage Magic, expanding its Canadian presence. The company reports that affiliate brokers generated 36.8% of total funded volume and revenue in 2023. With 25 independently licensed firms utilizing Pineapple's white-label solutions, the company achieved record agent growth in October with an 82% year-over-year increase. This growth is supported by improving consumer sentiment and favorable interest rate adjustments. The expansion strengthens Pineapple's position in leveraging AI and data-driven solutions for mortgage services.

Pineapple Financial (NYSE American: PAPL) announces Pineapple XChange 2024, a networking and educational event for real estate and mortgage professionals, scheduled for November 6, 2024, at Paramount Eventspace in Woodbridge, Ontario. The event features keynote speaker Paul Baron, owner of C21 Leading Edge and former TRREB President, who will provide market updates and growth strategies. The agenda includes expert panel discussions, a lender partner tradeshow, and presentations on tech updates, housing market outlook, and industry trends. The full-day program runs from 8:00 AM to 4:00 PM, offering opportunities for attendees to connect with industry leaders and gain insights into the 2025 market landscape.

Pineapple Financial (NYSE American: PAPL), a tech-driven mortgage brokerage, will present at the Centurion One Capital 2nd Annual Bahamas Summit on October 22-23, 2024, at the Rosewood Baha Mar Hotel in Nassau. CEO Shubha Dasgupta will present on October 23rd at 2:10 PM EDT, discussing the company's journey, market position, and growth projections.

Pineapple Financial has been ranked among Canada's fastest-growing companies for two consecutive years, with a 166% growth rate. The company is positioned for further growth due to changes in Canadian mortgage regulations and the launch of Pineapple Insurance, offering life, creditor, and disability coverage for mortgage clients.

The summit will feature presentations from public and private companies across various industries to prominent investors from Canada, the United States, and abroad.

Pineapple Financial Inc. (NYSE American: PAPL) has been recognized among Canada's Fastest-Growing Companies for the second consecutive year by the Globe and Mail's Report on Business. The company achieved an impressive 166% growth over the past three fiscal years, securing a spot among 416 companies on the prestigious list.

This recognition highlights Pineapple's success in leveraging cutting-edge technology, empowering mortgage professionals, and expanding its presence across Canada. Despite challenges such as high interest rates and inflation, the company has demonstrated resilience and continued growth.

CEO Shubha Dasgupta emphasized the company's commitment to innovation and empowering its nationwide network of brokers. President Kendall Marin highlighted Pineapple's technological advancements, including PineappleONE, Maui AI, and Doc Genius, which solidify its position in the Canadian mortgage industry.

Pineapple Financial (NYSE American: PAPL) is poised for strategic growth following recent Canadian mortgage rule changes. The reforms, effective August 1, 2024, introduce 30-year amortizations for first-time buyers and increase the insured mortgage cap to $1.5 million. These changes aim to boost market activity by improving accessibility for first-time and move-up buyers.

Pineapple's data-driven platform, PineappleONE, is well-positioned to capitalize on these reforms. The company plans to expand its reach to first-time buyers and empower move-up buyers with tailored mortgage solutions. Pineapple's growth potential is further supported by Canada's robust housing demand, driven by population growth and housing supply shortages.

With over 700 agents using PineappleONE, Pineapple Financial aims to increase productivity and market share in response to rising demand. The company's tech-enabled scalability, data-driven decision-making, and expanding broker network position it as a potential leading force in the evolving Canadian mortgage landscape.