Pineapple Energy Prices $1M Registered Direct Offering For The Purchase And Sale Of 2,702,703 Shares Of The Company's Common Stock At A Purchase Price Of $0.37 Per Share
Portfolio Pulse from Benzinga Newsdesk
Pineapple Energy Inc. (NASDAQ:PEGY) announced a registered direct offering of 2,702,703 shares at $0.37 per share, aiming to raise approximately $1.0 million for working capital and general corporate purposes. The offering, facilitated by Roth Capital Partners, is expected to close on February 7, 2024.

February 05, 2024 | 1:07 pm
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Pineapple Energy Inc. is raising $1M through a direct offering of 2.7M shares at $0.37 each, with proceeds aimed at working capital and general corporate purposes.
The direct offering by Pineapple Energy is a common financial activity aimed at raising capital. While it increases the company's cash reserves, it also dilutes current shareholders' equity. The impact on the stock price could be neutral to slightly negative in the short term due to this dilution effect. However, the use of proceeds for working capital and general corporate purposes could strengthen the company's operational capabilities, offsetting potential negative impacts.
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