Netcapital, a digital private capital markets ecosystem listed on Nasdaq as NCPL and NCPLW, has entered into definitive agreements to offer an aggregate of 1.1m shares of its common stock at $1.55 per share.
The direct offering is scheduled to close on 25 May 2023, pending the fulfilment of customary closing conditions. The gross proceeds from the offering are expected to amass approximately $1.7m before deducting the placement agent’s fees and other offering expenses payable by the company.
Netcapital is a FinTech firm that utilises a scalable technology platform to facilitate private companies in raising capital online. In addition, it provides private equity investment opportunities to investors.
The capital raised from this direct offering is intended to be used to retire about $365,000 of outstanding indebtedness, with the remainder largely allocated for general corporate purposes.
ThinkEquity, a reputable firm, is acting as the exclusive placement agent for the offering. The securities in this direct offering will be offered and sold in line with a shelf registration statement on Form S-3, including a base prospectus, filed with the U.S. Securities and Exchange Commission (SEC) on 18 October 2022.
As a part of its wide-ranging services, Netcapital’s consulting group, Netcapital Advisors, offers marketing and strategic advice while also taking equity positions in select companies with disruptive technologies.
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