Netcapital Inc., a Utah corporation, has announced a Special Meeting of Shareholders to be held virtually on July 24, 2024. The meeting will address proposals including a reverse stock split of the company's issued common stock at a ratio between 1-for-2 and 1-for-100, and the authorization to adjourn the meeting if necessary. The reverse stock split proposal, if approved, would grant the board of directors the discretion to select the exact ratio and to effect the split at any time before July 24, 2025, without further stockholder approval. The board unanimously recommends voting in favor of both the reverse stock split and the adjournment proposals. The reverse stock split aims to increase the per-share price of Netcapital's common stock to comply...Show More

Netcapital Inc., a Utah corporation, has announced a Special Meeting of Shareholders to be held virtually on July 24, 2024. The meeting will address proposals including a reverse stock split of the company's issued common stock at a ratio between 1-for-2 and 1-for-100, and the authorization to adjourn the meeting if necessary. The reverse stock split proposal, if approved, would grant the board of directors the discretion to select the exact ratio and to effect the split at any time before July 24, 2025, without further stockholder approval. The board unanimously recommends voting in favor of both the reverse stock split and the adjournment proposals. The reverse stock split aims to increase the per-share price of Netcapital's common stock to comply with Nasdaq's minimum bid price requirement. The company had previously received a notification from Nasdaq regarding non-compliance due to the stock price falling below the $1.00 minimum bid price for 30 consecutive business days. Netcapital was granted an extension until August 26, 2024, to regain compliance. The board believes that maintaining the listing on The Nasdaq Capital Market is in the best interest of the company and its shareholders.