Pineapple Financial's Successful $1 Million Direct Offering

Pineapple Financial Completes $1 Million Direct Offering

Pineapple Financial, Inc. (NYSE: PAPL), a leading tech-focused mortgage brokerage, has successfully completed a registered direct offering, securing approximately $1 million in gross proceeds. This robust financial move will bolster the company’s innovative mortgage solutions across Canada.

Details of the Offering

The registered direct offering comprised an issuance of 1,666,667 common shares, priced at $0.60 per share. Additionally, pre-funded warrants were made available as part of the offering, with each share being sold at the competitive price mentioned above. This strategic offering reflects Pineapple Financial's commitment to enhancing its operational capabilities and expanding its reach within the mortgage industry.

Role of D. Boral Capital LLC

D. Boral Capital LLC played a pivotal role in this process as the exclusive placement agent for the offering. Their expertise in facilitating such financial transactions has been instrumental in ensuring a smooth execution of this offering.

Legal Support and Compliance

Pineapple Financial has engaged Sichenzia Ross Ference Carmel LLP to serve as U.S. legal counsel throughout this process. This partnership underscores the importance of compliance and regulatory adherence as the company navigates the complex landscape of securities offerings. The offering was conducted under an effective shelf registration statement, ensuring compliance with all necessary regulations.

Community Impact and Corporate Responsibility

Pineapple Financial is not only focused on financial growth but also on community welfare. The company is dedicated to supporting cancer charities across Canada, helping improve the lives of those impacted by this illness. This commitment reflects their broader vision of making a positive impact within the communities they serve.

About Pineapple Financial, Inc.

As a frontrunner in the Canadian mortgage sector, Pineapple Financial distinguishes itself by prioritizing the success of both its brokers and the experiences of homeowners. Despite the challenges faced in the market, the company leverages cutting-edge, cloud-based tools and AI-driven technologies to empower approximately 600 brokers in their mission to help Canadians achieve their dream of homeownership.

Looking Ahead

The completion of this offering marks a significant milestone for Pineapple Financial. While the company is aware of various market uncertainties, it remains focused on its strategy of growth and customer service excellence. With this funding, Pineapple aims to further enhance its service offerings and foster lasting relationships with clients.

Frequently Asked Questions

What was the purpose of Pineapple Financial's recent offering?

The offering aimed to raise capital to support Pineapple Financial's operational expansion and enhance its mortgage services across Canada.

How many shares were issued in the direct offering?

A total of 1,666,667 common shares were issued during the offering at a price of $0.60 per share.

Which firm acted as the placement agent for this offering?

D. Boral Capital LLC served as the exclusive placement agent for the direct offering.

What community initiatives does Pineapple Financial support?

Pineapple Financial is committed to supporting cancer charities across Canada, actively participating in community welfare.

What is Pineapple Financial's mission?

Pineapple Financial aims to empower brokers and enhance the homeownership experience for Canadians using innovative technologies and a client-centric approach.

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