Netcapital Inc. (NCPL): debt financing — Netcapital issues $182K note with 13% interest to Vanquish Funding, convertible at 65% discount on default

Netcapital Inc.

Issued $182,120 promissory note to Vanquish Funding for $157,000 (13% OID); net proceeds $150,000 after $7,000 expenses.
Note matures March 30, 2027; 13% one-time interest; five payments totaling $205,795 starting Nov 30, 2026.
Upon default, conversion price set at 65% of lowest 20-day trading price, floor $1.00 per share for first six months.
Default triggers acceleration at 150% of outstanding (200% if conversion share delivery fails); 22% default interest.
Proceeds used for general working capital; note issued in private placement under Section 4(a)(2).

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Netcapital Inc. incurred loan of $182,120 with Vanquish Funding Group Inc. at 13% maturing March 30, 2027.

Instrument: loan
Principal: $182,120
Counterparty: Vanquish Funding Group Inc.
Rate: 13%
Maturity: March 30, 2027
Event: incurrence

Exact text from the filing

On June 5, 2026, Netcapital Inc. (the “Company”) entered into a Securities Purchase Agreement, dated June 4, 2026 (the “Purchase Agreement”), with Vanquish Funding Group Inc., a Virginia corporation (the “Buyer”), pursuant to which the Company issued to the Buyer a promissory note in the principal amount of $182,120 (the “Note”) for a purchase price of $157,000, reflecting an original issue discount of $25,120.

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Netcapital Inc. issued convertible note to Vanquish Funding Group Inc. for purchase price of $157,000.

Security: convertible note
Purchaser: Vanquish Funding Group Inc.
Consideration: purchase price of $157,000

Exact text from the filing

On June 5, 2026, Netcapital Inc. (the “Company”) entered into a Securities Purchase Agreement, dated June 4, 2026 (the “Purchase Agreement”), with Vanquish Funding Group Inc., a Virginia corporation (the “Buyer”), pursuant to which the Company issued to the Buyer a promissory note in the principal amount of $182,120 (the “Note”) for a purchase price of $157,000

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Netcapital Inc. entered into Securities Purchase Agreement with Vanquish Funding Group Inc. valued at $182,120 (effective 2026-06-05).

Action: entry
Agreement: equity purchase
Counterparty: Vanquish Funding Group Inc.
Value: $182,120
Effective: 2026-06-05

Exact text from the filing

On June 5, 2026, Netcapital Inc. (the “Company”) entered into a Securities Purchase Agreement, dated June 4, 2026 (the “Purchase Agreement”), with Vanquish Funding Group Inc., a Virginia corporation (the “Buyer”), pursuant to which the Company issued to the Buyer a promissory note in the principal amount of $182,120 (the “Note”) for a purchase price of $157,000, reflecting an original issue discount of $25,120.

View on SEC.gov

296 debt financings filed in the last 30 days. Browse all debt financings →

Netcapital Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-028158

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