secwatch.observer — SEC 8-K summary
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Issuer:     Netcapital Inc. (NCPL)
CIK:        0001414767
Form:       8-K
Filed at:   2026-06-10T21:00:17+00:00
Accession:  0001493152-26-028135
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Netcapital issues $145K convertible note and warrant to Labrys Fund II
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- Issued $145,000 promissory note (OID $20,000) and warrant to purchase 125,000 shares at $0.50 per share.
- Net cash proceeds of $111,250 after legal fees, due diligence costs, and placement agent fees.
- Note matures June 3, 2027; amortization starts Dec 3, 2026 with initial payment of $81,200.
- Conversion price set at 75% of lowest closing bid price over 10 trading days (floor $0.10 per share).
- Company must seek shareholder approval under Nasdaq Rule 5635(d) within 180 days; share issuance cap of 1,569,579 shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226028135/0001493152-26-028135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226028135/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-028135

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