Netcapital closes $1.75M public offering of 1.247M shares at $1.40/share

Netcapital Inc.

Public offering of 1,247,000 shares at $1.40/share; gross proceeds $1,745,800.
Net proceeds to company approximately $1.39 million after discounts and expenses.
Underwriters granted 45-day option to purchase up to 187,000 additional shares for over-allotments.
Proceeds will be used for general corporate purposes, working capital, and G&A expenses.
Company insiders subject to 3-month lock-up from December 13, 2022.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Netcapital Inc. entered into Underwriting Agreement with ThinkEquity LLC (effective 2022-12-13).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Effective: 2022-12-13

Exact text from the filing

On December 13, 2022 (the “Effective Date”), Netcapital Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC (“ThinkEquity”), as representative of the several underwriters listed on Schedule I thereto (the “Underwriters”), relating to the public offering (the “Offering”) of 1,247,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a price to the public of $1.40 per Share (the “Offering Price”).

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Netcapital Inc. filing history →

Source: SEC EDGAR

accession 0001903596-22-000932

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