Pinnacle Food Group, a Canada-based provider of small-scale hydroponic growing systems, filed on Thursday with the SEC to raise up to $10 million in an initial public offering.
The company sells hydroponic growing systems and provides technical support services to individual households and community groups, and is developing a hydroponic growing system for urban farms. Its growing systems include sensors, growing trays, racks for growing trays, growing baskets, light panels, water tanks and consumables such as seeds, grow sponges and nutrient solutions. Pinnacle Food also provides advice, agricultural data intelligence, controllable data applications, environmental design consulting, equipment installation, and agricultural technical support to users of its equipment.
The Vancouver, Canada-based company was founded in 2015 and booked $3 million in sales for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol PFAI. Pinnacle Food Group filed confidentially on August 23, 2024. Craft Capital Management is the sole bookrunner on the deal. No pricing terms were disclosed.
