Netcapital (NASDAQ: NCPL) has announced a registered direct offering priced at-the-market, consisting of 641,712 shares of common stock at $4.675 per share, expected to generate approximately $3 million in gross proceeds. The company is also conducting a concurrent private placement of unregistered short-term warrants to purchase up to 641,712 shares at $4.55 per share, which could potentially provide additional gross proceeds of $2.9 million if fully exercised.
The offering, with H.C. Wainwright & Co. as exclusive placement agent, is expected to close around July 17, 2025. Netcapital plans to use the proceeds for repaying outstanding promissory notes and general working capital purposes.
Netcapital (NASDAQ: NCPL) ha annunciato un’offerta diretta registrata a prezzo di mercato, che comprende 641.712 azioni ordinarie a 4,675 dollari per azione, con un ricavo lordo previsto di circa 3 milioni di dollari. L’azienda sta inoltre effettuando un collocamento privato simultaneo di warrant a breve termine non registrati per l’acquisto di fino a 641.712 azioni a 4,55 dollari per azione, che potrebbe generare ulteriori proventi lordi di 2,9 milioni di dollari se completamente esercitati.
L’offerta, con H.C. Wainwright & Co. come agente di collocamento esclusivo, dovrebbe concludersi intorno al 17 luglio 2025. Netcapital intende utilizzare i proventi per rimborsare cambiali in essere e per finalità di capitale circolante generale.
Netcapital (NASDAQ: NCPL) ha anunciado una oferta directa registrada al precio de mercado, que consiste en 641,712 acciones ordinarias a 4.675 dólares por acción, con ingresos brutos estimados en aproximadamente 3 millones de dólares. La compañía también está realizando una colocación privada simultánea de warrants a corto plazo no registrados para comprar hasta 641,712 acciones a 4.55 dólares por acción, que podría proporcionar ingresos brutos adicionales de 2.9 millones de dólares si se ejercen en su totalidad.
La oferta, con H.C. Wainwright & Co. como agente exclusivo de colocación, se espera que cierre alrededor del 17 de julio de 2025. Netcapital planea usar los ingresos para pagar pagarés pendientes y para capital de trabajo general.
Netcapital (NASDAQ: NCPL)은 시장가로 가격이 책정된 등록 직접 공모를 발표했으며, 주당 4.675달러에 641,712주의 보통주를 포함하여 약 300만 달러의 총 수익을 창출할 것으로 예상됩니다. 회사는 또한 주당 4.55달러에 최대 641,712주를 매수할 수 있는 등록되지 않은 단기 워런트의 동시 사모 발행을 진행 중이며, 전액 행사 시 추가로 290만 달러의 총 수익을 얻을 수 있습니다.
H.C. Wainwright & Co.가 독점 배정 대행사로 참여하는 이번 공모는 2025년 7월 17일경에 마감될 예정입니다. Netcapital은 수익금을 미지급 약속어음 상환과 일반 운전자본 용도로 사용할 계획입니다.
Netcapital (NASDAQ : NCPL) a annoncé une offre directe enregistrée au prix du marché, comprenant 641 712 actions ordinaires à 4,675 $ par action, avec un produit brut attendu d’environ 3 millions de dollars. La société réalise également un placement privé simultané de bons de souscription à court terme non enregistrés permettant d’acheter jusqu’à 641 712 actions à 4,55 $ par action, ce qui pourrait générer des produits bruts supplémentaires de 2,9 millions de dollars en cas d’exercice complet.
L’offre, avec H.C. Wainwright & Co. comme agent de placement exclusif, devrait se clôturer aux alentours du 17 juillet 2025. Netcapital prévoit d’utiliser les fonds pour rembourser des billets à ordre en cours et pour des besoins généraux de fonds de roulement.
Netcapital (NASDAQ: NCPL) hat ein registriertes Direktangebot zum Marktpreis angekündigt, das aus 641.712 Stammaktien zu je 4,675 USD besteht und voraussichtlich rund 3 Millionen USD Bruttoerlös generieren wird. Das Unternehmen führt gleichzeitig eine Privatplatzierung nicht registrierter kurzfristiger Warrants zum Kauf von bis zu 641.712 Aktien zu 4,55 USD pro Aktie durch, die bei vollständiger Ausübung zusätzliche Bruttoerlöse von 2,9 Millionen USD bringen könnte.
Das Angebot, bei dem H.C. Wainwright & Co. als exklusiver Platzierungsagent fungiert, soll voraussichtlich um den 17. Juli 2025 abgeschlossen werden. Netcapital plant, die Erlöse zur Rückzahlung ausstehender Schuldscheine und für allgemeine Betriebskapitalzwecke zu verwenden.
Positive
- Potential to raise up to $5.9 million in total gross proceeds
- Strategic timing with at-the-market pricing under Nasdaq rules
- Immediate access to $3 million in gross proceeds from share offering
- 24-month exercise window for warrants provides flexibility
Negative
- Dilution of existing shareholders through new share issuance
- No guarantee that warrants will be exercised for additional $2.9 million
- Outstanding promissory notes requiring repayment from proceeds
Insights
Netcapital raises $3M through at-market stock offering with potential for $2.9M more via warrants, primarily to repay outstanding debt.
Netcapital’s $3 million registered direct offering represents a significant capital raise for this digital private markets company. The company is selling 641,712 shares at $4.675 per share, pricing at-the-market under Nasdaq rules – meaning the offering price is based on recent trading prices rather than at a discount.
The concurrent issuance of unregistered short-term warrants is particularly noteworthy. These warrants give holders the right to purchase an additional 641,712 shares at $4.55 per share over the next 24 months, potentially bringing in another $2.9 million if fully exercised. The $4.55 warrant exercise price sitting below the $4.675 share offering price creates an immediate potential arbitrage opportunity for investors.
Importantly, Netcapital has specified that proceeds will primarily go toward repaying outstanding promissory notes, indicating the company is using this financing to restructure its debt rather than purely funding growth initiatives. This debt reduction focus suggests management is prioritizing balance sheet improvement, though some proceeds will support general working capital.
The use of H.C. Wainwright as placement agent is typical for smaller cap Nasdaq companies raising capital. The at-market pricing suggests reasonable investor confidence, as distressed companies typically need to offer significant discounts to attract capital. However, dilution will be a factor for existing shareholders, with the initial offering representing immediate dilution and potential for further dilution if warrants are exercised.
07/16/2025 – 01:40 PM
$3 million upfront with up to an additional $2.9 million of potential aggregate gross proceeds upon the exercise in full of short-term warrants
Boston, July 16, 2025 (GLOBE NEWSWIRE) — Netcapital Inc. (the “Company”) (NASDAQ: NCPL, NPCLW), a digital private capital markets ecosystem, today announced that it has entered into definitive agreements for the purchase and sale of 641,712 shares of common stock at a purchase price of $4.675 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to 641,712 shares of common stock at an exercise price of $4.55 per share that will be immediately exercisable upon issuance and will expire twenty-four months following the effective date of the registration statement covering the resale of the shares of common stock issuable upon exercise of the unregistered short-term warrants. The closing of the offering is expected to occur on or about July 17, 2025 subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $3 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the unregistered short-term warrants, if fully-exercised on a cash basis, will be approximately $2.9 million. No assurance can be given that any of such unregistered short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for the repayment of certain outstanding promissory notes and for general working capital purposes.
The common stock (but not the unregistered short-term warrants and the shares of common stock underlying the unregistered short-term warrants) described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-267921) that was declared effective by the Securities and Exchange Commission (the “SEC”) on October 26, 2022. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at [email protected].
The unregistered short-term warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered short-term warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered short-term warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.
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, the exercise of the unregistered short-term warrants prior to their expiration 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.
FAQ
What is the size of Netcapital’s (NCPL) July 2025 offering?
Netcapital is offering 641,712 shares at $4.675 per share, expecting to raise approximately $3 million in gross proceeds, with potential additional proceeds of $2.9 million from warrant exercises.
How will Netcapital (NCPL) use the proceeds from the offering?
The company will use the proceeds for repayment of certain outstanding promissory notes and for general working capital purposes.
What is the exercise price of NCPL’s warrants in the July 2025 offering?
The unregistered short-term warrants have an exercise price of $4.55 per share and will be exercisable immediately upon issuance.
When will Netcapital’s (NCPL) July 2025 offering close?
The offering is expected to close on or about July 17, 2025, subject to customary closing conditions.
Who is the placement agent for Netcapital’s (NCPL) offering?
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
