Netcapital Announces Exercise of Warrants
10 Januar 2025 - 2:00PM
Netcapital Inc. (the “Company”) (NASDAQ: NCPL, NPCLW), a digital
private capital markets ecosystem, today announced the entry into
definitive agreements for the immediate exercise of certain
outstanding warrants to purchase up to an aggregate of 270,861
shares of common stock of the Company originally issued in December
2023 and May 2024, having an exercise price of $10.85 per share, at
a reduced exercise price of $1.80 per share. The shares of common
stock issuable upon exercise of the warrants are registered
pursuant to an effective registration statement on Form S-1 (No.
333-282590). The gross proceeds to the Company from the exercise of
the warrants are expected to be approximately $487,549, prior to
deducting placement agent fees and estimated offering expenses.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
In consideration for the immediate exercise of
the warrants for cash, the Company will issue new unregistered
Series A-5 warrants to purchase up to 361,148 shares of common
stock and new unregistered Series A-6 warrants to purchase up to
180,574 shares of common stock. The Series A-5 new warrants will
have an exercise price of $2.07 per share, will be exercisable six
months after issuance, and will expire five years thereafter. The
Series A-6 new warrants will have an exercise price of $2.07 per
share, will be exercisable six months after issuance and will
expire eighteen months thereafter.
The offering is expected to close on or about
January 13, 2025, subject to satisfaction of customary closing
conditions. The Company intends to use the net proceeds from the
offering for general working capital purposes.
The new warrants described above were offered in
a private placement pursuant to an applicable exemption from the
registration requirements of the Securities Act of 1933, as amended
(the “1933 Act”) and, along with the shares of common stock
issuable upon their exercise, have not been registered under the
1933 Act, and may not be offered or sold in the United States
absent registration with the Securities and Exchange Commission
(“SEC”) or an applicable exemption from such registration
requirements. The Company has agreed to file a registration
statement with the SEC covering the resale of the shares of common
stock issuable upon exercise of the new warrants.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Netcapital Inc.
Netcapital Inc. is a fintech company with a
scalable technology platform that allows private companies to raise
capital online and provides private equity investment opportunities
to investors. The Company's consulting group, Netcapital Advisors,
provides marketing and strategic advice and takes equity positions
in select companies. The Company’s funding portal, Netcapital
Funding Portal, Inc. is registered with the U.S. Securities &
Exchange Commission (SEC) and is a member of the Financial Industry
Regulatory Authority (FINRA), a registered national securities
association.
Forward Looking Statements
The information contained herein includes
forward-looking statements. These statements relate to future
events, including, but not limited to, statements relating to
closing of the offering and satisfaction of closing conditions of
the offering, the expected gross proceeds from the offering and
statements regarding the anticipated use of proceeds from the
offering, or to our future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
our actual results to be materially different from any future
results, levels of activity, performance or achievements expressed
or implied by these forward-looking statements. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond our control and which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
our current views with respect to future events and is subject to
these and other risks, uncertainties and assumptions relating to
our operations, results of operations, growth strategy and
liquidity. We assume no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
Investor Contacts
800-460-0815
ir@netcapital.com
Netcapital (NASDAQ:NCPL)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
Netcapital (NASDAQ:NCPL)
Historical Stock Chart
Von Jan 2024 bis Jan 2025