secwatch.observer — SEC 8-K summary
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Issuer:     PINEAPPLE, INC. (PNPL)
CIK:        0001654672
Form:       8-K
Filed at:   2021-08-16T23:59:59+00:00
Accession:  0001493152-21-020077
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pineapple acquires 50% stake in Capital Growth Investments for $1M; gains licensed cannabis ops
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- Pineapple to buy 50,000 shares (50%) of CGI at $20/share for aggregate $1,000,000.
- $100,000 paid for initial 5% stake; $900,000 balance due within 60 days of Aug 7, 2021.
- Shareholder Agreement grants anti-dilution rights and 50% monthly distributions of CGI's net cash from operations.
- CGI holds retail, cultivation, manufacturing, and distribution licenses in Riverside County and statewide California.
- Super-majority (80%) shareholder vote required for fundamental issues, giving Pineapple significant control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1654672/000149315221020077/0001493152-21-020077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1654672/000149315221020077/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-020077

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer