Netcapital (NCPL) prices 1.247 million share offering at $1.40

Netcapital Inc. (Nasdaq: NCPL) announced the pricing of an underwritten public offering of 1,247,000 shares of its common stock at a public offering price of $1.40 per share, for gross proceeds of $1,745,800, before deducting underwriting discounts, commissions and offering expenses payable by the Company. All of the shares of common stock are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,000 shares of common stock at the public offering price less discounts and commissions, solely to cover over-allotments, if any. The offering is expected to close on December 16, 2022, subject to satisfaction of customary closing conditions.

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.

ThinkEquity is acting as sole book-running manager for the offering.

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