Pineapple Financial Inc. Announces Proposed Share Consolidation to Strengthen Capital Structure and Support Long-Term Growth
Pineapple Financial Inc. (NYSE: PAPL), a tech-enabled mortgage brokerage and fintech platform, has announced a proposed share consolidation plan to be voted on at a special meeting on June 26, 2025. The consolidation ratio will be between 10:1 and 20:1 pre-consolidation shares for each post-consolidation share.
The company's Board of Directors has approved submitting this special resolution to shareholders, with a record date of May 23, 2025. CEO Shubha Dasgupta stated that this move aims to strengthen the company's capital structure, enhance its trading profile, and support future growth. The consolidation is expected to increase the per-share trading price and potentially improve the company's ability to attract institutional investors while maintaining NYSE American listing requirements.
Pineapple Financial Inc. (NYSE: PAPL), una piattaforma fintech e brokeraggio ipotecario tecnologicamente avanzata, ha annunciato un piano di consolidamento azionario che sarà sottoposto a voto in un'assemblea straordinaria il 26 giugno 2025. Il rapporto di consolidamento sarà compreso tra 10:1 e 20:1, ovvero da 10 a 20 azioni pre-consolidamento per ogni azione post-consolidamento.
Il Consiglio di Amministrazione ha approvato la proposta da sottoporre agli azionisti, con data di riferimento il 23 maggio 2025. Il CEO Shubha Dasgupta ha dichiarato che questa operazione mira a rafforzare la struttura patrimoniale dell'azienda, migliorare il profilo di negoziazione e sostenere la crescita futura. Si prevede che il consolidamento aumenterà il prezzo per azione e potrà migliorare la capacità dell'azienda di attrarre investitori istituzionali, mantenendo al contempo i requisiti di quotazione sul NYSE American.
Pineapple Financial Inc. (NYSE: PAPL), una plataforma fintech y corredor hipotecario con tecnología avanzada, ha anunciado un plan propuesto de consolidación de acciones que será votado en una reunión especial el 26 de junio de 2025. La proporción de consolidación será entre 10:1 y 20:1, es decir, de 10 a 20 acciones antes de la consolidación por cada acción después de la consolidación.
La Junta Directiva de la empresa aprobó presentar esta resolución especial a los accionistas, con fecha de registro el 23 de mayo de 2025. El CEO Shubha Dasgupta declaró que esta medida busca fortalecer la estructura de capital de la compañía, mejorar su perfil de negociación y apoyar el crecimiento futuro. Se espera que la consolidación aumente el precio por acción y potencialmente mejore la capacidad de la empresa para atraer inversores institucionales, manteniendo los requisitos de cotización en NYSE American.
Pineapple Financial Inc. (NYSE: PAPL)는 기술 기반 모기지 중개 및 핀테크 플랫폼으로, 2025년 6월 26일에 열리는 특별총회에서 투표할 예정인 주식 병합 계획을 발표했습니다. 병합 비율은 병합 전 주식 10주에서 20주당 병합 후 1주 사이가 될 예정입니다.
이사회는 2025년 5월 23일 기준일로 이 특별 결의를 주주들에게 제출하는 것을 승인했습니다. CEO인 Shubha Dasgupta는 이번 조치가 회사의 자본 구조를 강화하고 거래 프로필을 개선하며 향후 성장을 지원하는 것을 목표로 한다고 밝혔습니다. 이번 병합으로 주당 거래 가격이 상승하고 기관 투자자 유치 능력이 향상될 것으로 기대되며, NYSE American 상장 요건도 유지할 수 있을 것입니다.
Pineapple Financial Inc. (NYSE : PAPL), une plateforme fintech et courtage hypothécaire technologique, a annoncé un projet de regroupement d'actions qui sera soumis au vote lors d'une assemblée générale extraordinaire le 26 juin 2025. Le ratio de regroupement sera compris entre 10:1 et 20:1, soit de 10 à 20 actions avant regroupement pour chaque action après regroupement.
Le conseil d'administration a approuvé la soumission de cette résolution spéciale aux actionnaires, avec une date de référence fixée au 23 mai 2025. Le PDG Shubha Dasgupta a indiqué que cette opération vise à renforcer la structure financière de l'entreprise, améliorer son profil de négociation et soutenir sa croissance future. Le regroupement devrait augmenter le prix par action et potentiellement améliorer la capacité de l'entreprise à attirer des investisseurs institutionnels tout en respectant les exigences de cotation du NYSE American.
Pineapple Financial Inc. (NYSE: PAPL), eine technologiegestützte Hypothekenvermittlung und Fintech-Plattform, hat einen vorgeschlagenen Aktiensplit angekündigt, der auf einer außerordentlichen Hauptversammlung am 26. Juni 2025 zur Abstimmung gestellt wird. Das Konsolidierungsverhältnis wird zwischen 10:1 und 20:1 liegen, das heißt 10 bis 20 Altaktien werden zu einer neuen Aktie zusammengelegt.
Der Vorstand hat die Einreichung dieses Sonderbeschlusses an die Aktionäre genehmigt, mit einem Stichtag am 23. Mai 2025. CEO Shubha Dasgupta erklärte, dass dieser Schritt darauf abzielt, die Kapitalstruktur des Unternehmens zu stärken, das Handelsprofil zu verbessern und das zukünftige Wachstum zu unterstützen. Es wird erwartet, dass die Konsolidierung den Kurs je Aktie erhöht und die Fähigkeit des Unternehmens verbessert, institutionelle Investoren anzuziehen, während die Anforderungen der NYSE American weiterhin erfüllt werden.
- Potential to attract more institutional investors through higher share price
- Helps maintain NYSE American listing requirements
- No impact on shareholders' proportionate ownership or voting rights
- Indicates possible concerns about maintaining NYSE listing requirements
- May suggest underlying challenges with current share price performance
Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Pineapple Financial Inc. (NYSE: PAPL) ("Pineapple" or the "Company"), a tech-enabled mortgage brokerage and fintech platform, today announced that its Board of Directors has approved the submission of a special resolution to shareholders to authorize a consolidation (the "Consolidation") of the Company's issued and outstanding common shares on the basis of between 10 and 20 pre-Consolidation shares for each one post-Consolidation share.
The proposed Consolidation will be presented to shareholders for approval at a special meeting scheduled for June 26, 2025, with a record date set for May 23, 2025.
"This proposed share consolidation reflects our continued efforts to strengthen our capital structure, enhance our trading profile, and position the Company for future growth," said Shubha Dasgupta, CEO of Pineapple Financial. "As we continue to grow our volume, expand our verticals, and improve operational efficiency, we believe this step supports our long-term commitment to delivering shareholder value."
The Consolidation, if approved, is expected to increase the per-share trading price of the Company's common shares, which may improve the Company's ability to attract institutional investors and meet minimum share price requirements for continued listing on the NYSE American exchange. It does not affect any shareholder's proportionate ownership interest or voting rights, except for minor rounding adjustments.
Further details regarding the Consolidation and special meeting will be included in the management information circular to be filed and mailed to shareholders in accordance with applicable securities laws.
About Pineapple
Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They 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 economic 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 that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It 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.
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/252039
FAQ
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