Loan & DebtJun 10, 2026, 05:06 PM
Netcapital Inc. Issues $145,000 Note and Warrant to Labrys Fund II
AI Summary
Netcapital Inc. has entered into a Securities Purchase Agreement with Labrys Fund II, L.P., issuing a $145,000 promissory note and a warrant to purchase 125,000 shares. The company received net proceeds of $111,250 after accounting for an original issue discount and fees. The note matures in June 2027, with amortization payments beginning in December 2026. Netcapital is also required to seek shareholder approval for the potential issuance of shares related to this agreement.
Key Highlights
- Netcapital Inc. issued a $145,000 promissory note to Labrys Fund II, L.P.
- The company received net cash proceeds of $111,250 after discounts and fees.
- The note matures on June 3, 2027, with amortization payments starting December 3, 2026.
- Labrys also received a warrant to purchase 125,000 shares of common stock at $0.50 per share.
- The company must seek shareholder approval for share issuance under the note and warrant within 180 days.
- Proceeds are designated for business development and general working capital.
Price Impact
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