Business
Netcapital Inc. Announces Closing of Registered Direct Offering
BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW), (“Netcapital'' or the “Company”), a digital private capital markets ecosystem, today
About this update from Netcapital Inc.
[{"type":"text","content":" BOSTON--(BUSINESS WIRE)--\nNetcapital Inc. (Nasdaq: NCPL, NCPLW), (“Netcapital'' or the “Company”), a digital private capital markets ecosystem, today announced the closing of the purchase and sale of an aggregate of 1,100,000 shares of its common stock, at a purchase price of $1.55 per share, in a registered direct offering.\n\n\nThe gross proceeds to the Company from the offering were approximately $1.7 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to repay approximately $365,000 of outstanding indebtedness, including accrued interest, and the remainder for working capital and other general corporate purposes.\n\n\nThinkEquity acted as the exclusive placement agent for the offering.\n\n\nThe shares of common stock described above were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-267921), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 18, 2022 and declared effective on October 26, 2022, and the accompanying prospectus supplement dated May 23, 2023 filed with the SEC on May 25, 2023. The prospectus supplement and the accompanying base prospectus relating to the registered direct offering is available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nAbout Netcapital Inc.\n\n\nNetcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U...