---
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"
generated_at: "2026-06-16T20:20:16.115873+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Netcapital issues $290K convertible note and warrants to FirstFire, netting $224.5K

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-028887
- JSON: https://secwatch.observer/filing/0001493152-26-028887.json
- Plain text: https://secwatch.observer/filing/0001493152-26-028887.txt

## Key facts
- Debt Financings
  Netcapital Inc. incurred convertible notes of $290,000 with FirstFire Global Opportunities Fund, LLC at 12% of the principal amount maturing June 9, 2027.
  - Instrument: convertible notes
  - Principal: $290,000
  - Counterparty: FirstFire Global Opportunities Fund, LLC
  - Rate: 12% of the principal amount
  - Maturity: June 9, 2027
  - Event: incurrence
  source text: the Company issued and delivered to FirstFire a promissory note dated June 9, 2026 in the principal amount of $290,000 (the “Note”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/0001493152-26-028887-index.htm
- Material Agreements
  Netcapital Inc. entered into Securities Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at $290,000 (effective 2026-06-09).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: FirstFire Global Opportunities Fund, LLC
  - Value: $290,000
  - Effective: 2026-06-09
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226028887/0001493152-26-028887-index.htm

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