On July 29, 2024, Netcapital Inc., a digital private capital markets ecosystem, filed an amendment to its Articles of Incorporation to effectuate a 1-for-70 reverse stock split of its common stock, which became effective on August 1, 2024. The reverse stock split was approved by Netcapital's board of directors and authorized by its shareholders during a special meeting. As a result, every seventy shares of issued and outstanding common stock were reclassified into one share, with the stock beginning to trade on a split-adjusted basis on The Nasdaq Capital Market under the ticker symbol 'NCPL' on August 2, 2024. The reverse stock split aimed to increase the per-share market price of the common stock to meet Nasdaq's minimum bid price requirement for...Show More

On July 29, 2024, Netcapital Inc., a digital private capital markets ecosystem, filed an amendment to its Articles of Incorporation to effectuate a 1-for-70 reverse stock split of its common stock, which became effective on August 1, 2024. The reverse stock split was approved by Netcapital's board of directors and authorized by its shareholders during a special meeting. As a result, every seventy shares of issued and outstanding common stock were reclassified into one share, with the stock beginning to trade on a split-adjusted basis on The Nasdaq Capital Market under the ticker symbol 'NCPL' on August 2, 2024. The reverse stock split aimed to increase the per-share market price of the common stock to meet Nasdaq's minimum bid price requirement for continued listing. Post-split, the company had approximately 579,445 shares of common stock outstanding. Adjustments were made to the exercise prices and number of shares underlying the company's public and private warrants, outstanding equity awards, and equity incentive plan. No fractional shares were issued; shareholders entitled to a fractional share received one whole share instead. The company issued a press release on July 30, 2024, to announce the reverse stock split.