Netcapital Inc. Announces Registered Direct Offering

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 that it has entered into definitive agreements for 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. The offering is expected to close on May 25, 2023, subject to satisfaction of customary closing conditions.\n\n\nThe gross proceeds to the Company from the offering are expected to be 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 retire approximately $365,000 of outstanding indebtedness with the remainder primarily for general corporate purposes.\n\n\nThinkEquity is acting as the exclusive placement agent for the offering.\n\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. The offering of such securities in the registered direct offering is being made only by means of a prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying 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.\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 consu...

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