Netcapital partners with Templum to launch secondary trading marketplace for private securities

Netcapital Inc.

Netcapital subsidiary signs 3-year exclusive ATS partnership with Templum to enable secondary trading of private securities.
Agreement includes discounted license fee in year 1, standard fees in years 2-3, and annual increase of CPI+3% or 5% thereafter.
Press release says Netcapital plans to offer liquidity to funding portal investors via Templum Markets' regulated ATS.
Agreement automatically renews annually unless either party gives 90-day non-renewal notice.
CEO Kay says partnership is a competitive advantage and key differentiator in digital private markets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Netcapital Inc. entered into Software License and Services Agreement with Templum, Inc. valued at Implementation fee upon signing; discounted license fee in year 1, standard license fee in years 2 a (effective 2023-01-02).

Action: entry
Agreement: license
Counterparty: Templum, Inc.
Value: Implementation fee upon signing; discounted license fee in year 1, standard license fee in years 2 a
Effective: 2023-01-02

Exact text from the filing

On January 2, 2023, Netcapital Systems LLC (“Systems”), a Utah limited liability company and wholly owned subsidiary of Netcapital Inc. (the “Company”) entered into a software license and services agreement (“Agreement”) with Templum, Inc. (“Templum”), a company that provides capital markets infrastructure for trading private equity securities.

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Netcapital Inc. filing history →

Source: SEC EDGAR

accession 0001903596-23-000028

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