secwatch.observer — SEC 8-K summary
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Issuer:     Netcapital Inc. (NCPL)
CIK:        0001414767
Form:       8-K
Filed at:   2026-05-01T23:59:59+00:00
Accession:  0001493152-26-020888
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Netcapital raises $275K via convertible notes and related-party note for working capital
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- Two convertible notes issued to Vanquish Funding for $144,550 aggregate principal, purchase price $125,000 (OID $19,550).
- Bridge note: $92,800 principal, 14% interest, matures Feb 2027; Promissory note: $51,750, 12% interest, matures Feb 2027.
- Also issued $300,000 non-convertible note to related party Netcapital Systems LLC for $150,000 (50% OID), 8% interest, matures Sep 2026.
- Notes are unregistered, sold under Section 4(a)(2) and Regulation D; proceeds used for general working capital.
- Default interest at 22% (convertible notes) and 20% (related-party note); notes prepayable without penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-020888

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer