Every S-1 that Netcapital Inc (NCPL) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A S-1 covers the registration statement a company files to sell shares publicly, so if you follow NCPL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NCPL filings page.
Netcapital Inc. is registering up to 1,879,090 shares of common stock for resale, including 1,760,340 shares issuable upon exercise of existing warrants, while the company would receive up to about $9.21 million only if all such warrants are exercised for cash.
The filing highlights a sharp revenue decline and significant losses, including net losses of $28.3 million for the year ended April 30, 2025 and $5.8 million for the six months ended October 31, 2025. Netcapital also recorded about $19.9 million of portfolio investment impairments and its auditor raised substantial doubt about its ability to continue as a going concern. The company further discloses a Nasdaq notice that its share price has fallen below the $1.00 minimum bid requirement, creating delisting risk if compliance is not regained.
Netcapital Inc. is registering 1,879,090 shares of common stock for resale by existing investors, including 1,760,340 shares issuable upon warrant exercise. The company will not receive proceeds from share resales, but could raise about $9.21 million if all registered warrants are exercised for cash.
Netcapital operates an online funding portal and a newly approved broker-dealer focused on Regulation Crowdfunding, Regulation A and Regulation D offerings, and is expanding into tokenized securities. The business faces sharply lower revenues, heavy net losses, sizable impairments on portfolio investments, customer concentration, and an auditor’s going concern warning, while holding minority stakes in numerous private companies obtained as fee compensation.