Pineapple Financial Inc. (PAPL) Announces Closing of $1.5 Million Public Offering
Pineapple Financial Inc. (NYSE American: PAPL), a Canadian mortgage technology and brokerage firm, has completed a public offering raising $1.5 million in gross proceeds. The offering consisted of 10 million units priced at $0.15 per unit, with each unit comprising one common share and one warrant to purchase an additional common share.
D. Boral Capital LLC served as the exclusive placement agent for the offering, which was conducted under an effective SEC registration statement on Form S-1. The offering was made through a prospectus, with legal counsel provided by Sichenzia Ross Ference Carmel LLP for Pineapple and Lucosky Brookman LLP for D. Boral Capital.
Pineapple Financial Inc. (NYSE American: PAPL), una società canadese specializzata in tecnologia ipotecaria e intermediazione, ha completato un'offerta pubblica raccogliendo 1,5 milioni di dollari di proventi lordi. L'offerta consisteva in 10 milioni di unità al prezzo di 0,15 dollari per unità, ciascuna unità comprendente un'azione ordinaria e un warrant per l'acquisto di un'azione ordinaria aggiuntiva.
D. Boral Capital LLC ha agito come agente di collocamento esclusivo per l'offerta, che è stata condotta sotto una dichiarazione di registrazione SEC efficace sul modulo S-1. L'offerta è stata effettuata tramite un prospetto, con assistenza legale fornita da Sichenzia Ross Ference Carmel LLP per Pineapple e Lucosky Brookman LLP per D. Boral Capital.
Pineapple Financial Inc. (NYSE American: PAPL), una empresa canadiense de tecnología hipotecaria y corretaje, ha completado una oferta pública recaudando 1,5 millones de dólares en ingresos brutos. La oferta consistió en 10 millones de unidades a un precio de 0,15 dólares por unidad, cada unidad incluye una acción común y una opción para comprar una acción común adicional.
D. Boral Capital LLC actuó como agente exclusivo de colocación para la oferta, que se realizó bajo una declaración de registro efectiva de la SEC en el Formulario S-1. La oferta se realizó mediante un prospecto, con asesoría legal proporcionada por Sichenzia Ross Ference Carmel LLP para Pineapple y Lucosky Brookman LLP para D. Boral Capital.
Pineapple Financial Inc. (NYSE American: PAPL)는 캐나다의 모기지 기술 및 중개 회사로서, 150만 달러의 총 수익을 모금하는 공개 모집을 완료했습니다. 이번 모집은 1,000만 단위로 구성되었으며, 단위당 가격은 0.15달러입니다. 각 단위는 보통주 1주와 추가 보통주 1주를 구매할 수 있는 워런트 1주로 구성되어 있습니다.
D. Boral Capital LLC가 이번 모집의 독점 배정 대리인으로 활동했으며, 이는 SEC의 유효한 S-1 양식 등록 진술서 하에 진행되었습니다. 모집은 안내서를 통해 이루어졌으며, Pineapple 측 법률 자문은 Sichenzia Ross Ference Carmel LLP가, D. Boral Capital 측 법률 자문은 Lucosky Brookman LLP가 제공했습니다.
Pineapple Financial Inc. (NYSE American : PAPL), une société canadienne spécialisée dans la technologie hypothécaire et le courtage, a réalisé une offre publique levant 1,5 million de dollars de produits bruts. L'offre comprenait 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 ordinaire supplémentaire.
D. Boral Capital LLC a agi en tant qu'agent de placement exclusif pour cette offre, réalisée dans le cadre d'une déclaration d'enregistrement SEC effective sur le formulaire S-1. L'offre a été faite par prospectus, avec un conseil juridique assuré par Sichenzia Ross Ference Carmel LLP pour Pineapple et Lucosky Brookman LLP pour D. Boral Capital.
Pineapple Financial Inc. (NYSE American: PAPL), ein kanadisches Unternehmen für Hypothekentechnologie und Brokerage, hat eine öffentliche Platzierung abgeschlossen und dabei 1,5 Millionen US-Dollar Bruttoerlös erzielt. Das Angebot umfasste 10 Millionen Einheiten zu einem Preis von 0,15 US-Dollar pro Einheit. Jede Einheit bestand aus einer Stammaktie und einem Bezugsrecht zum Kauf einer weiteren Stammaktie.
D. Boral Capital LLC fungierte als exklusiver Platzierungsagent für das Angebot, das unter einer gültigen SEC-Registrierungserklärung auf Formular S-1 durchgeführt wurde. Das Angebot erfolgte über einen Prospekt, wobei die Rechtsberatung von Sichenzia Ross Ference Carmel LLP für Pineapple und Lucosky Brookman LLP für D. Boral Capital bereitgestellt wurde.
- Successfully raised $1.5 million in gross proceeds through public offering
- Each unit includes a warrant, providing potential additional capital through warrant exercises
- Significant dilution to existing shareholders with 10 million new units issued
- Low unit price of $0.15 may indicate challenging market conditions
- Additional dilution possible if warrants are exercised
Insights
Pineapple Financial has raised $1.5M through a public offering of 10M units at $0.15 each, providing fresh capital but introducing potential share dilution.
Pineapple Financial, described as a leading Canadian mortgage technology and brokerage firm, has completed a
This capital raise was conducted through D. Boral Capital LLC as the exclusive placement agent and was properly registered with the SEC via Form S-1 (File No. 333-286783), which was declared effective on May 1, 2025.
The structure of this offering - units consisting of shares plus full warrant coverage - is a common capital raising mechanism for smaller public companies. The
The press release doesn't disclose the specific intended use of proceeds, which leaves questions about how the company plans to deploy this capital. It also doesn't mention the exercise price or term of the warrants, which would be important details for understanding the potential future impact on the company's capital structure.
For existing shareholders, this offering represents significant dilution, with 10 million new shares being issued plus the potential for an additional 10 million shares if all warrants are exercised. The ultimate impact of this capital raise on the company will depend on how effectively management deploys the new funds relative to the dilution incurred.
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or the "Company"), a leading Canadian mortgage technology and brokerage firm, today announced the closing of its public offering (the "Offering") with aggregate gross proceeds to the Company of
D. Boral Capital LLC acted as exclusive placement agent for the Offering.
Sichenzia Ross Ference Carmel LLP acted as legal counsel to the Company and Lucosky Brookman LLP acted as legal counsel to D. Boral Capital LLC.
The Offering of the securities described above was offered by the Company pursuant to an effective registration statement on Form S-1 (File No. 333-286783), as amended, filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on May 1, 2025. The Offering was made only by means of a prospectus. A final prospectus describing the terms of the Offering was filed with the SEC and forms a part of the effective registration statement. Copies of the final prospectus relating to this Offering may be obtained on the SEC's website at http://www.sec.gov or by contacting D. Boral Capital LLC at 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at info@dboralcapital.com, or by telephone at (212) 970-5150.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or 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/250894
FAQ
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