Loan & DebtJul 8, 2026, 04:33 PM
Netcapital Secures $290K Note and Warrant from Dune Equity
AI Summary
Netcapital Inc. has secured $290,000 in financing through a Securities Purchase Agreement with Dune Equity Holdings LLC, issuing a promissory note and a warrant to purchase 250,000 shares. The company received net cash proceeds of $224,500, which will be used for business development and general working capital. Concurrently, Netcapital announced a strategic shift to build a comprehensive ecosystem for entrepreneurs, integrating advanced AI (Project Orion) and evaluating data center acquisitions to support its long-term vision.
Key Highlights
- Netcapital Inc. closed a Securities Purchase Agreement with Dune Equity Holdings LLC on July 2, 2026.
- Issued a promissory note with a principal amount of $290,000 and a common stock purchase warrant for 250,000 shares.
- The Note was issued for a purchase price of $250,000, reflecting a $40,000 original issue discount.
- Company received net cash proceeds of $224,500 after deductions for legal and placement agent fees.
- The Note includes a one-time 12% interest charge ($34,800) and matures on July 1, 2027.
- Warrant exercisable from January 1, 2027, at $0.50 per share, expiring July 1, 2029.
- Note conversion price is 75% of the lowest closing bid price, with a floor of $0.10 per share.
- Shareholder approval required for issuance exceeding 1,569,579 shares under the Note and Warrant.
Price Impact
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