Canadian mortgage broker Pineapple files for proposed $18M US IPO

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Canadian mortgage broker Pineapple files for proposed $18M US IPO


ismagilov

Canadian mortgage broker Pineapple Financial (PAPL) has filed for a proposed $18M initial public offering on the US market.

Pineapple didn’t specify in its filing the price and number of the shares to be offered, but indicated in an attached filing fee schedule that it was looking to raise up to $18M.

The company hopes to list its shares on Nasdaq under the symbol PAPL. EF Hutton is serving as lone bookrunner.

Based in Ontario, Pineapple provides mortgage brokerage services and related technology solutions to Canada’s mortgage sector. The company is also building an insurance business called Pineapple Insurance.

For the fiscal year ended Aug. 31, Pineapple reported a net loss of $3M on gross revenue of $20M.

For more IPO news, check out SA’s IPO News page.


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