Netcapital Funding Portal Users Raise $1.07 Million for KMX Technologies

Rhea-AI Summary

Netcapital Inc. (NASDAQ: NCPL, NCPLW) announced the successful completion of a capital offering by KMX Technologies on August 5, 2022. KMX sold 718,120 units at a price of $1.49 each, raising a total of $1,069,999. This marks another successful capital raise on Netcapital's platform, demonstrating its role in funding early-stage innovations. Jason Frishman, CEO of Netcapital, highlighted the strong investor enthusiasm for KMX. KMX focuses on zero-waste solutions, addressing critical environmental challenges through proprietary technology.

Positive

• KMX Technologies successfully raised the maximum amount of $1,069,999.
• Strong investor enthusiasm demonstrated for KMX's offering.

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• None.

Maximum offering amount raised

BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced the successful completion of a capital offering by KMX Technologies, an innovative creator of zero-waste solutions using proprietary technology spanning water, lithium, and critical minerals. KMX Technologies’ offering closed on August 5, 2022, selling 718,120 units at a unit price of $1.49 for a total of $1,069,999 in proceeds.

“We are pleased to announce the latest successful capital raise on our platform – another example of how we help fund innovation for exciting early-stage companies,” said Jason Frishman, CEO of Netcapital Funding Portal Inc. “KMX raised the maximum amount for its offering through strong enthusiasm from our community of investors committed to making great companies thrive. We congratulate KMX for their success and look forward to their continuing business growth and development.”

KMX Technologies is solving the most critical environmental and energy challenges of the 21st century. Through its proprietary membrane distillation technology, the company is accelerating energy storage with its direct lithium recovery enhancement processes, sustainably sourcing critical minerals necessary for next generation supply chains and infrastructure, and advancing wastewater treatment.

Zachary Sadow, CEO of KMX Technologies, commented, “The Netcapital platform simplified the fundraising process for us and delivered an outstanding outcome that met the maximum amount of our offering. It was a pleasure working with the team at Netcapital and I would recommend them to any early-stage deep technology company seeking growth capital for their business.”

Netcapital.com is an SEC-registered funding portal that enables private companies to raise capital online, while investors are able to invest from almost anywhere in the world, at any time, with just a few clicks. Securities offerings on the portal are accessible through individual offering pages, where companies include product or service details, market size, competitive advantages, and financial documents. Companies can accept investment from virtually anyone, including friends, family, customers, and employees.

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 with disruptive technologies. The Netcapital funding portal 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 information contained herein includes forward-looking statements. These statements relate to future events 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220830005018/en/

Investor Contact



800-460-0815

ir@netcapital.com

Source: Netcapital Inc.

FAQ

What was the total amount raised by KMX Technologies through Netcapital?

KMX Technologies raised a total of $1,069,999 through its offering.

When did KMX Technologies complete its capital offering?

KMX Technologies completed its capital offering on August 5, 2022.

What are the stock symbols for Netcapital Inc.?

The stock symbols for Netcapital Inc. are NCPL and NCPLW.

How many units did KMX Technologies sell in their offering?

KMX Technologies sold 718,120 units at a price of $1.49 each.