Overview

• Pineapple Financial raised the $100 million through a private placement to fund the Injective allocation.
• Participants in the raise included FalconX, Monarq, Abraxas, Kraken, Blockchain.com, Canary Capital, and the Injective Foundation.
• The company trades on NYSE American under the ticker PAPL.
• The SEC is reviewing Canary Capital’s proposed staked-INJ ETF with a 21-day public comment window and up to 90 days of review, and the fund would list on Cboe BZX if approved.
• INJ rose about 6% intraday to roughly $13.30 after the announcement before easing to around $12.80.