Canadian mortgage brokerage, Pineapple Financial Inc., concluded its initial public offering (IPO) today, raising $3.5 million pre-expenses. The company, which focuses on using advanced cloud-based tools and artificial intelligence (AI) to enhance home buying in Canada, offered 875,000 common shares at a price of $4 each. Now trading on the NYSE American Exchange under the ticker PAPL, this marks a significant milestone for the tech-centric firm.
The IPO was managed by EF Hutton, a division of Benchmark Investments LLC, acting as the book-running manager, and Dominari Securities LLC in the role of co-manager. Legal support for the transaction was provided by Sichenzia Ross Ference LLP for Pineapple Financial and Lucosky Brookman LLP for EF Hutton.
Pineapple Financial's network comprises approximately 600 brokers who employ AI-driven systems to assist Canadians in achieving homeownership. In addition to its core business operations, Pineapple Financial demonstrates a commitment to community involvement through its sponsorship of cancer charities nationwide.
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