Toronto-based Pineapple Financial Inc. (NYSE:PAPL) stock jumped over 100% on Friday after the company closed a $100 million private placement, becoming the first publicly traded firm to establish a digital asset treasury anchored in Injective's (CRYPTO: INJ/USD) native token, INJ, which offers one of the industry's highest staking yields.
Pineapple issued 24,642,700 subscription receipts through the financing, split into two tranches at $3.80 and $4.16 per receipt, with a weighted average purchase price of about $4.04. The company plans to use the proceeds to purchase INJ and establish a dedicated Injective treasury.
