Business
Netcapital Inc. Announces Pricing of Public Offering and Nasdaq Listing
BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW), a fintech company with a scalable technology platform that allows private companies to raise
About this update from Netcapital Inc.
[{"type":"text","content":" BOSTON--(BUSINESS WIRE)--\nNetcapital Inc. (Nasdaq: NCPL, NCPLW), a fintech company with a scalable technology platform that allows private companies to raise capital online from accredited and non-accredited investors, today announced the pricing of an underwritten public offering of 1,205,000 shares of the Company’s common stock and accompanying warrants to purchase up to 1,205,000 shares of the Company’s common stock. Each share and accompanying warrant is being sold to the public at a price of $4.15. The gross proceeds to the Company from the offering are expected to be approximately $5.0 million before deducting underwriting discounts, commissions and other offering expenses. The warrants will have a per share exercise price of $5.19, be exercisable immediately, and expire five years from the date of issuance. The shares of common stock and warrants can only be purchased together in the offering, but will be issued separately. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 180,750 shares of common stock and/or 180,750 additional warrants to purchase common stock solely to cover over-allotments, if any, at the public offering price, less the underwriting discount.\n\nThe Company intends to use the net proceeds of the offering for research and development activities (including development of a mobile app), sales and marketing, general working capital purposes, potential acquisitions of other companies, products or technologies, and to repay certain indebtedness.\n\nThe shares of common stock and warrants have been approved for listing on the Nasdaq Capital Market under the symbols “NCPL” and “NCPLW” respectively, and are expected to begin trading on the exchange at the open of trading on July 13, 2022.\n\nThe offering is expected to close on July 15, 2022, subject to satisfaction of customary closing conditions.\n\nThinkEquity is acting as sole book-running manager for the offering.\n\nA registration statement on Form S-1 (File No. 333-262688) relating to the shares of common stock and warrants was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 12, 2022. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, ...