Pineapple Financial, a Canadian mortgage brokerage, raised $4 million by offering 0.9 million shares at $4, the low end of the range of $4 to $6.
Because the company raised less than $5 million and has a market cap of less than $50 million at pricing, Pineapple Financial will be excluded from Renaissance Capital's 2023 IPO stats.
Pineapple Financial is a mortgage technology and brokerage company that provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers. The company currently operates exclusively in Canada and has been approved to operate in 11 provinces and territories, with two additional provinces to follow.
Pineapple Financial plans to list on the NYSE American under the symbol PAPL. EF Hutton acted as sole bookrunner on the deal.
