NCPL - Netcapital announces exercise of warrants for $2.2 million gross proceeds
2024-05-24 17:16:22 ET
- Netcapital Inc. ( NASDAQ: NCPL ) on Friday announced the entry into definitive agreements for the immediate exercise of certain outstanding Series A-2 warrants.
- The warrants entail the purchase of an aggregate of 14.32M shares of common stock of the company originally issued in December 2023, having an exercise price of $0.25 per share, at a reduced exercise price of $0.155 per share.
- The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1.
- The gross proceeds to the company from the exercise of the warrants are expected to be approximately $2.2 million, prior to deducting placement agent fees and estimated offering expenses.
- NCPL -11.16% after hours to $0.171
- Source: Press Release