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Securities Purchase Agreement
On September 2, 2025, Pineapple Financial Inc. (the "Company") entered into a securities purchase agreement (the "Securities Purchase Agreement") with certain accredited investors (the "Purchasers") pursuant to which the Company agreed to sell and issue to the Purchasers in a private placement (the "Private Placement") offering subscription receipts (the "Subscription Receipts") of the Company at an offering price of $3.80 per Subscription Receipt (the "Subscription Receipt Purchase Price") to be governed by the terms of a subscription receipt agreement to be entered into in connection with the closing of the Private Placement (the "Subscription Receipt Agreement"). Each Subscription Receipt is exchangeable for (i) one common share without par value (the "Common Share") or (ii) one pre-funded warrant (the "Pre-Funded Warrant") to purchase Common Shares (the "Pre-Funded Warrant Shares"). In the Private Placement, the Purchasers will tender either U.S. dollars or INJ tokens to the Company as consideration for the Subscription Receipts (the aggregate amount to be paid in such INJ or United States Dollars, the "Subscription Amount").
Each Pre-Funded Warrant is immediately exercisable for one Common Share at the exercise price of $0.001 per Pre-Funded Warrant Share, and may be exercised at any time until all of the Pre-Funded Warrants issued in the Private Placement are exercised in full. Each Purchaser's ability to exercise its Pre-Funded Warrants in exchange for Common Shares is subject to certain beneficial ownership limitations set forth therein.
Posted In: PAPL
