Netcapital entered into a Securities Purchase Agreement to secure financing for working capital and business development. The company issued a $290,000 unsecured convertible note for a $250,000 purchase price (net proceeds $224,500 after fees) and a warrant for 250,000 shares at $0.50. The note carries a one-time 12% interest charge, matures Jul 1, 2027, and becomes convertible at 75% of the lowest closing bid (with a $0.10 floor, subject to default provisions). Amortization begins Jan 2, 2027, and the transaction includes a 4.99% ownership cap and a 1,569,579-share issuance limit pending shareholder approval.
Agreement details:
- Agreement type: Securities Purchase Agreement for convertible note and warrant financing
- Counterparty: Dune Equity Holdings
- Signed / Effective: Jul 01 2026 / Jul 02 2026
- Duration / Termination: 1 year, matures Jul 01 2027
- Reason: Fund working capital and business development
Original SEC Filing:
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