Summary by Futu AI
Netcapital Inc. has issued a prospectus supplement on May 24, 2024, which updates and amends its previous offering detailed in the Original Prospectus dated December 21, 2023. The offering includes 4,800,000 shares of common stock and 32,000,000 series A-1 and A-2 common stock purchase warrants, along with 11,200,000 pre-funded warrants and placement agent warrants to purchase up to 1,200,000 shares of common stock. The combined offering price for each share of common stock with accompanying warrants is set at $0.25. Notably, the company has amended the series A-2 warrants by reducing the exercise price to $0.155 per share. The series A-1 warrants will expire five years from the initial exercise date, while the series A-2 warrants will expire eighteen months from that date. The common stock of Netcapital is traded on the Nasdaq Capital Market under the ticker 'NCPL', and as of the last reported sale on May 24, 2024, the stock was priced at $0.1930 per share. Investors are advised to read the Original Prospectus and this supplement carefully, considering the high degree of risk involved in investing in these securities.