Pineapple sells 45.17% of subsidiary Pineapple Ventures to co-founder for 20M shares and debt extinguishment

PINEAPPLE, INC.

Sold 45.17% equity interest in Pineapple Ventures, Inc. to co-founder Jaime Ortega.
Consideration: 20,000,000 shares of common stock plus full debt extinguishment owed to PVI and Neu-Ventures.
Post-transaction shares outstanding: 71,163,569.
Amended agreement effective as of December 31, 2022; filed to correct effective date in prior 8-K.

item 1.01 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PINEAPPLE, INC. amended Amended Letter Agreement with Jaime Ortega (effective 2023-03-10).

Action: amendment
Agreement: equity purchase
Counterparty: Jaime Ortega
Effective: 2023-03-10

Exact text from the filing

On March 10, 2023, the Company entered into an Amended Binding Letter of Intent (the “Amended Letter Agreement”), effective as of December 31, 2022 (the “Effective Date”), with its Co-Founder, Jaime Ortega (“Ortega”) where the Company agreed to sell 45.17% of its equity interest (the “PVI Interest”) in Pineapple Ventures, Inc. (“PVI”), in exchange for: (i) the purchase price of twenty million (20,000,000) shares of the Company’s common stock, $0.0000001 par value per share (the “Common Stock”) and (ii) the extinguishment of all of the Company’s debt to PVI and Neu-Ventures, Inc. (“NVI”), respectively, of which both PVI and NVI are wholly owned by Ortega (the “Share Repurchase”).

View on SEC.gov

Browse all material agreements →

PINEAPPLE, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-008684

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.