other material
confidence high
sentiment neutral
materiality 0.50
Netcapital reduces warrant exercise price to $1.80, raises ~$487K in cash exercise
Netcapital Inc.
- Existing warrants for 270,861 shares exercised at $1.80 (down from $10.85); gross proceeds ~$487K.
- Company issued new Series A-5 warrants for 361,148 shares and A-6 warrants for 180,574 shares, each at $2.07, exercisable in 6 months.
- Placement agent H.C. Wainwright received 7.5% cash fee, management fee, expenses, and warrants for 20,315 shares at $2.25.
- Proceeds used for general working capital; new warrants unregistered, resale registration to be filed.