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NEW YORK CITY, NEW YORK / ACCESS Newswire / September 8, 2025 / On September 5, 2025, Pineapple Financial Inc. (NYSE:PAPL) (the "Company" or "Pineapple"), a leading fintech platform, announced the closing of a private placement for the purchase and sale of an aggregate of 24,642,700 subscription receipts, for aggregate gross proceeds of approximately $100,000,000. Pineapple intends to deploy the net proceeds to launch the first digital asset treasury strategy anchored in INJ, the native asset of Injective. With this closing, Pineapple becomes the first and only publicly traded INJ holder worldwide and an early mover in the convergence of fintech and blockchain based finance. Pursuant to the terms of the securities purchase agreement, the Company issued 7,815,777 subscription receipts at a purchase price of $3.80 per subscription receipt and 16,826,923 subscription receipts at a purchase price of $4.16 per subscription receipt, pursuant to different terms agreed with certain purchasers. The combined issuance represents a weighted average purchase price of approximately $4.04 per subscription receipt.
The offer and sale of the foregoing securities was made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the "SEC") registering the subscription receipts and the underlying shares. Any offering of the Company's securities under the resale registration statement will only be made by means of a prospectus.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
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.
About Injective
INJ is the native asset of Injective, a blockchain built for finance. Powering over 60 billion dollars in transactions, Injective offers faster transaction speeds and cost efficiencies compared to many networks, with a focus on institutional readiness. Network usage has increased more than 1,000 percent year to date. INJ provides a liquidity layer intended to support speed, efficiency, and transparency, which may help address structural challenges in mortgage finance.
About D. Boral Capital
D. Boral Capital LLC is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the Middle East, and Latin America.
A recognized leader on Wall Street, D. Boral Capital has successfully aggregated approximately $35 billion in capital since its inception in 2020, executing ~350 transactions across a broad range of investment banking products.
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; 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
For more information, please contact:
D. Boral Capital LLC
Email: [email protected]
Telephone: +1 (212) 970-5150
Pineapple Financial Inc.
Email: [email protected]
SOURCE: D. Boral Capital
View the original press release on ACCESS Newswire
A.Rodriguezv--AMWN
