---
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"
generated_at: "2026-06-04T12:40:30.317360+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "medium"
source: SEC EDGAR
---

# Netcapital signs non-binding LOI to acquire Resmac mortgage banking assets for $5M in subsidiary preferred stock

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: medium
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-027205
- JSON: https://secwatch.observer/filing/0001493152-26-027205.json
- Plain text: https://secwatch.observer/filing/0001493152-26-027205.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.