Pineapple Financial Inc. Announces 1-for-20 Reverse Stock Split
Pineapple Financial Inc. (OTC Pink: PAPLF), a Canadian mortgage technology and brokerage company, has announced a 1-for-20 reverse stock split effective July 16th, 2025. The reverse split will reduce outstanding shares from 20,092,025 to 1,004,675 shares.
The company aims to increase its per-share market price to regain compliance with NYSE American's Listing Qualifications. Trading will temporarily occur under the symbol "PAPLD" for 20 business days before reverting to PAPLF. Fractional shares will be rounded up to the nearest whole share, and the split will not alter shareholders' ownership percentages except for minor rounding adjustments.
Pineapple Financial Inc. (OTC Pink: PAPLF), una società canadese specializzata in tecnologia ipotecaria e intermediazione, ha annunciato un split azionario inverso 1-per-20 con effetto dal 16 luglio 2025. Lo split ridurrà le azioni in circolazione da 20.092.025 a 1.004.675 azioni.
L'obiettivo dell'azienda è aumentare il prezzo di mercato per azione per tornare a rispettare i requisiti di quotazione del NYSE American. Le azioni saranno temporaneamente negoziate con il simbolo "PAPLD" per 20 giorni lavorativi, prima di tornare a "PAPLF". Le azioni frazionarie saranno arrotondate per eccesso all'azione intera più vicina e lo split non modificherà le percentuali di proprietà degli azionisti, salvo lievi aggiustamenti dovuti all'arrotondamento.
Pineapple Financial Inc. (OTC Pink: PAPLF), una empresa canadiense de tecnología hipotecaria y corretaje, ha anunciado una consolidación inversa de acciones 1 por 20 efectiva a partir del 16 de julio de 2025. La consolidación reducirá las acciones en circulación de 20,092,025 a 1,004,675 acciones.
La compañía busca aumentar el precio por acción para cumplir nuevamente con los requisitos de cotización de NYSE American. Las acciones se negociarán temporalmente bajo el símbolo "PAPLD" durante 20 días hábiles antes de volver a "PAPLF". Las acciones fraccionarias se redondearán al número entero más cercano hacia arriba y la consolidación no modificará los porcentajes de propiedad de los accionistas, salvo pequeños ajustes por redondeo.
Pineapple Financial Inc. (OTC Pink: PAPLF)는 캐나다의 모기지 기술 및 중개 회사로, 2025년 7월 16일부터 발효되는 1대 20 역병합 주식을 발표했습니다. 이번 역병합으로 발행 주식 수가 20,092,025주에서 1,004,675주로 줄어듭니다.
회사는 주당 시장 가격을 높여 NYSE American 상장 자격 요건을 다시 충족시키는 것을 목표로 하고 있습니다. 거래는 20영업일 동안 임시로 "PAPLD"라는 심볼로 진행되며 이후 다시 "PAPLF"로 변경됩니다. 소수 주식은 가장 가까운 정수 주식으로 올림 처리되며, 역병합은 소수점 조정 외에는 주주들의 지분 비율에 변화를 주지 않습니다.
Pineapple Financial Inc. (OTC Pink : PAPLF), une société canadienne spécialisée dans la technologie hypothécaire et le courtage, a annoncé une fusion inversée d’actions au ratio de 1 pour 20 effective à partir du 16 juillet 2025. Cette opération réduira le nombre d’actions en circulation de 20 092 025 à 1 004 675 actions.
L’entreprise vise à augmenter le prix par action afin de se conformer à nouveau aux critères de cotation du NYSE American. Les actions seront temporairement négociées sous le symbole « PAPLD » pendant 20 jours ouvrables avant de revenir à « PAPLF ». Les actions fractionnaires seront arrondies à l’action entière la plus proche à la hausse et cette opération ne modifiera pas les pourcentages de détention des actionnaires, hormis de légers ajustements liés à l’arrondi.
Pineapple Financial Inc. (OTC Pink: PAPLF), ein kanadisches Unternehmen für Hypothekentechnologie und Brokerage, hat eine 1-zu-20 Reverse-Aktienzusammenlegung angekündigt, die am 16. Juli 2025 wirksam wird. Die Reverse-Split reduziert die ausstehenden Aktien von 20.092.025 auf 1.004.675 Aktien.
Das Unternehmen beabsichtigt, den Kurs pro Aktie zu erhöhen, um die Anforderungen der NYSE American-Notierungsbedingungen wieder zu erfüllen. Der Handel wird vorübergehend unter dem Symbol "PAPLD" für 20 Handelstage stattfinden, bevor er wieder zu PAPLF zurückkehrt. Bruchteile von Aktien werden auf die nächste ganze Aktie aufgerundet, und die Zusammenlegung wird die Eigentumsanteile der Aktionäre außer geringfügigen Rundungsanpassungen nicht verändern.
- Potential to regain NYSE American listing compliance through higher share price
- No change in shareholder ownership percentages (except minor rounding)
- Significant reduction in total outstanding shares may reduce trading liquidity
- Temporary ticker symbol change could cause confusion for investors
Toronto, Ontario--(Newsfile Corp. - July 15, 2025) - Pineapple Financial Inc. (OTC Pink: PAPLF) ("Pineapple", or the "Company"), a Canadian mortgage technology and brokerage company, today announced that it will implement a 1-for-20 reverse stock split of its common shares, effective as of 12:01 AM, July 16th, 2025, ET.
As a result of the reverse split, every 20 issued and outstanding common shares will be automatically combined into one common share. The number of authorized shares will not change. No fractional shares will be issued, and any fractional shares resulting from the reverse-split will be rounded up to the nearest whole share. Following the reverse split, the number of outstanding common shares will adjust from 20,092,025 common shares to 1,004,675 common shares.
One of the primary goals of the reverse stock split is to increase the per-share market price of the Company's common shares to enable the Company to regain compliance with the NYSE American's Listing Qualifications. The Company's common shares will trade on the OTC Market under the new ticker symbol "PAPLD" and are expected to begin trading on a split-adjusted basis on the morning of July 16th, 2025. After 20 business days, the symbol will be changed back to PAPLF. The CUSIP number for the common shares following the reverse stock split will be 72303K405.
The reverse split will affect all shareholders uniformly and will not alter any shareholder's ownership percentage, except for minor adjustments resulting from the rounding of fractional shares.
Additional details will be provided to shareholders through the Company's transfer agent, Endeavor Trust Corporation.
About Pineapple Financial Inc.
Pineapple Financial Inc. ("Pineapple", or the "Company") 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 and the effectiveness of the reverse stock split; the number of shares of the Company's common shares that will be issued as a result of rounding up fractional shares resulting from the reverse stock split to the nearest whole share, including dilution resulting from such issuances; the price at which the Company's common shares will trade after the reverse stock split is effected; the Company's financial condition, and other factors discussed in the "Risk Factors" section of the registration statements, and periodic reports 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. Forward-looking statements contained in this press release are made as of this date, and the Company undertakes no duty to update such information except as required by applicable law. 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/258937
FAQ
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