Business
Netcapital Inc. Announces Pricing of Public Offering
BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW) ("Netcapital" or the "Company"), a digital private capital markets ecosystem, today announced
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 pricing of an underwritten public offering of 1,247,000 shares of its common stock at a public offering price of $1.40 per share, for gross proceeds of $1,745,800, before deducting underwriting discounts, commissions and offering expenses payable by the Company. All of the shares of common stock are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,000 shares of common stock at the public offering price less discounts and commissions, solely to cover over-allotments, if any. The offering is expected to close on December 16, 2022, subject to satisfaction of customary closing conditions.\n\nThe Company intends to use the net proceeds from the offering primarily for general corporate purposes, capital expenditures, working capital and general and administrative expenses.\n\nThinkEquity is acting as sole book-running manager for the offering.\n\nThe securities will be 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 preliminary prospectus supplement filed with the SEC on December 13, 2022. The offering will be made only by means of a written prospectus. A final prospectus supplement and accompanying base prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673 or by email at [email protected].\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\nAbout Netcapital Inc.\n\nNetcapital ...