{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-027205","form_type":"8-K","ticker":"NCPL","cik":"0001414767","company_name":"Netcapital Inc.","filed_at":"2026-06-04T12:36:08+00:00","discovered_at":"2026-06-04T12:40:01.277861+00:00","generated_at":"2026-06-04T12:40:30.317360+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"medium","headline":"Netcapital signs non-binding LOI to acquire Resmac mortgage banking assets for $5M in subsidiary preferred stock","bullets":["Total acquisition value $5M, payable solely via 2.5M shares of SD Holdco Series A Convertible Preferred Stock at $2 stated value; no cash consideration.","Earnout: up to 1M additional preferred shares if Resmac achieves $10M cumulative GAAP revenue in 24 months; up to 500k shares if SD Holdco completes $10M+ S-1 offering.","Netcapital plans to spin out SD Holdco as a separate public company via dividend to NCPL shareholders after closing.","Closing subject to HUD approval, state license transfers, due diligence, termination of ECGI agreement, and board approval; 90-day exclusivity with $250k breach penalty.","Discloses related party: CEO Todd Violette's affiliate VUVU Ventures holds ~$250k investment in ECGI Holdings, which has an agreement with RezyFi that must be terminated."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-027205","json":"https://secwatch.observer/filing/0001493152-26-027205.json","markdown":"https://secwatch.observer/filing/0001493152-26-027205.md","text":"https://secwatch.observer/filing/0001493152-26-027205.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226027205/0001493152-26-027205-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226027205/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T12:40:30.317360+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}