Netcapital Announces Exercise of Warrants

Core Viewpoint - Netcapital Inc. has entered into definitive agreements for the immediate exercise of certain outstanding warrants, significantly reducing the exercise price, which is expected to generate approximately $487,549 in gross proceeds for the company [1][4]. Group 1: Warrants and Stock Offering - The company will exercise warrants to purchase up to 270,861 shares of common stock at a reduced exercise price of $1.80 per share, down from the original price of $10.85 per share [1]. - In exchange for the immediate exercise of the warrants, the company will issue new unregistered Series A-5 and Series A-6 warrants, allowing the purchase of up to 361,148 and 180,574 shares of common stock, respectively, both at an exercise price of $2.07 per share [3]. - The offering is expected to close around January 13, 2025, subject to customary closing conditions [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general working capital purposes [4]. Group 3: Company Overview - Netcapital Inc. is a fintech company that provides a scalable technology platform for private companies to raise capital online and offers private equity investment opportunities to investors [7]. - The company's consulting group, Netcapital Advisors, provides marketing and strategic advice while taking equity positions in select companies [7].