Netcapital Inc. Announces Pricing of Public Offering
Netcapital Inc. (NASDAQ: NCPL, NCPLW) has priced an underwritten public offering of 1,247,000 shares of common stock at $1.40 each, expected to raise gross proceeds of $1,745,800. The offering includes a 45-day option for underwriters to purchase an additional 187,000 shares. The Company plans to use proceeds for general corporate purposes, including capital expenditures and working capital. The offering is anticipated to close on December 16, 2022. ThinkEquity is the sole book-running manager for this offering.
- Gross proceeds of $1,745,800 expected from the offering.
- Funding will support general corporate purposes, capital expenditures, and working capital.
- Potential dilution for existing shareholders due to new share issuance.
The Company intends to use the net proceeds from the offering primarily for general corporate purposes, capital expenditures, working capital and general and administrative expenses.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-267921), including a base prospectus, filed with the
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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For example, the Company is using forward-looking statements when it discusses the expected gross proceeds and the closing of the offering. Forward-looking statements contained in this press release may be identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the Company's intention to offer to sell shares of its common stock in an underwritten public offering and the intended use of the net proceeds of the offering. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to consummate the offering, the duration and scope of the COVID-19 outbreak worldwide, including the impact to supply chains and state and local economies, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended
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For Investor Relations Inquiries:
800-460-0815
ir@netcapital.com
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