- Netcapital Inc. (NCPL, Financial) forms a new Crypto Advisory Board, appointing Matt Morgan among others.
- The company successfully raises $475,000 through a PIPE financing round.
- Netcapital aims to utilize the proceeds for general corporate purposes, enhancing their fintech capabilities.
Netcapital Inc. (NCPL) has announced the formation of a new Crypto Advisory Board, which includes the recent appointment of Matt Morgan, a seasoned advisor in the blockchain and decentralized finance (DeFi) sector. Morgan, known for his work with World Liberty Financial, a DeFi initiative supported by Donald Trump, will join other industry leaders such as Kyle Klemmer, Josh Meier, Eric Galen, Armondo Soto, and Noah Holmes. Each member has been granted stock options under the company's 2023 Equity Incentive Plan.
In a separate development, Netcapital completed a private investment in public equity (PIPE) financing round, raising $475,000. The company issued 118,750 shares at a price of $4.00 per share to ten accredited investors. A notable feature of this offering is a price reset provision, which will adjust the effective purchase price if additional shares are issued at a lower rate in the future, with a minimum price floor of $2.56, in accordance with Nasdaq Listing Rule 5635(d).
Netcapital plans to use the proceeds from this financing to support its general corporate initiatives, further solidifying its position in the integration of blockchain and digital assets within traditional financial ecosystems. CEO Martin Kay expressed enthusiasm for the strategic expansion, noting that it positions Netcapital to lead innovations at the crossroads of fintech and decentralized finance.
