Netcapital closes $1.2M public offering of 1.725M shares at $0.70/share

Netcapital Inc.

Gross proceeds of $1,207,500 from 1,725,000 shares at $0.70 per share; closed July 24, 2023.
ThinkEquity acted as sole book-running manager; issued warrants to purchase 86,250 shares to underwriter.
Net proceeds to be used for general corporate purposes, working capital, and G&A expenses.
Offering made under effective Form S-3 shelf registration (File No. 333-267921).

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 valued at approximately $1,207,500 (effective 2023-07-19).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Value: approximately $1,207,500
Effective: 2023-07-19

Exact text from the filing

On July 19, 2023 (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, relating to the public offering (the “Offering”) of 1,725,000 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 $0.70 per Share (the “Offering Price”).

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Netcapital Inc. filing history →

Source: SEC EDGAR

accession 0001903596-23-000554

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