Netcapital Inc. (NASDAQ: NCPL) saw its shares drop 2.57% in the after-hours session on Monday, trading at $6.82 following $5M offering, debt repayment plan.
Netcapital Inc. (NCPL) announced the closing of its registered direct offering, selling 714,286 shares of common stock at $7.00 per share. The gross proceeds from the offering were approximately $5 million. Netcapital Inc. intends to use the net proceeds to repay certain outstanding promissory notes. The remaining funds will be used for general working capital purposes.
The stock had closed the regular trading day at $7.00. NCPL opened the day at $6.66 and fluctuated within a range of $6.20 to $7.30, with a total trading volume of 1.85 million shares.
