{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-028887","form_type":"8-K","ticker":"NCPL","cik":"0001414767","company_name":"Netcapital Inc.","filed_at":"2026-06-16T20:15:34+00:00","discovered_at":"2026-06-16T20:17:00.373583+00:00","generated_at":"2026-06-16T20:20:16.115873+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Netcapital issues $290K convertible note and warrants to FirstFire, netting $224.5K","bullets":["Issued $290K promissory note to FirstFire with $40K OID; net proceeds $224.5K after fees.","Note carries 12% interest, amortization starts Dec 2026, convertible at 75% of VWAP (floor $0.10).","Issued warrant to purchase 250K shares at $0.50/share, exercisable from Dec 2026 to June 2029.","Share issuance limited to 1,569,579 shares unless shareholder approval obtained; meeting required within 180 days.","Note includes prepayment discounts (96%-98% of outstanding) and default triggers including registration failures."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-028887","json":"https://secwatch.observer/filing/0001493152-26-028887.json","markdown":"https://secwatch.observer/filing/0001493152-26-028887.md","text":"https://secwatch.observer/filing/0001493152-26-028887.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/0001493152-26-028887-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T20:20:16.115873+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":[{"claim_id":"e8378067c7850c43b04f497527aa81aadbf8591f","claim":"Netcapital Inc. incurred convertible notes of $290,000 with FirstFire Global Opportunities Fund, LLC at 12% of the principal amount maturing June 9, 2027.","evidence_excerpt":"the Company issued and delivered to FirstFire a promissory note dated June 9, 2026 in the principal amount of $290,000 (the “Note”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/0001493152-26-028887-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$290,000"},{"label":"Counterparty","value":"FirstFire Global Opportunities Fund, LLC"},{"label":"Rate","value":"12% of the principal amount"},{"label":"Maturity","value":"June 9, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"99383a955a490d1c39a82688a57940303f32b5aa","claim":"Netcapital Inc. entered into Securities Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at $290,000 (effective 2026-06-09).","evidence_excerpt":"On June 10, 2026, Netcapital Inc. (the “Company”) closed the transactions contemplated by a Securities Purchase Agreement (the “Purchase Agreement”), dated as of June 9, 2026, with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (“FirstFire”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/0001493152-26-028887-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"FirstFire Global Opportunities Fund, LLC"},{"label":"Value","value":"$290,000"},{"label":"Effective","value":"2026-06-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}