Following the company’s announcement of new strategic advisory boards, shares of Netcapital Inc. (NASDAQ: NCPL) saw a significant recovery during Thursday’s after-market session. Following a 12.75% drop during normal hours, which saw shares close at $2.47, NCPL price rose 13.36% to $2.80 in after-hours trading.
Game Advisory Board to Boost Industry Recognition
In an effort to promote strategic growth and increase participation in the online gaming industry, Netcapital announced the creation of a special Game Advisory Board. A group of seasoned experts with backgrounds in new technologies, strategic alliances, marketing innovation, and operational scalability make up the board.
Appointed members include Nik Redenko, Trey Smith, Greg Engelsbe, Peter Voogd, Nadeem Dossa, and Jared Peterson. Each member received stock options under the company’s 2023 Equity Incentive Plan as part of their appointment. Netcapital believes the platform’s core principles—community engagement, technological innovation, and strategic scalability—align closely with the demands of the gaming ecosystem.
Expansion into Digital Assets with Crypto Advisory Board
Simultaneously, the company announced that Matt Morgan, a recognized advisor in blockchain innovation, has joined its newly established Crypto Advisory Board. Morgan currently advises World Liberty Financial, a DeFi initiative linked to former President Donald Trump, and brings significant insight into decentralized systems and regulatory frameworks.
Morgan joins a distinguished panel that includes Kyle Klemmer, Josh Meier, Eric Galen, Armondo Soto, and Noah Holmes. Similar to the gaming board, all members have been granted stock options as part of their engagement. Netcapital views the convergence of crypto technologies with traditional financial structures as a pivotal opportunity for the company’s future.
Private Placement Strengthens Capital Position
Separately, Netcapital said that it had issued 118,750 common shares to 10 accredited investors at a price of $4.00 each in a private placement, generating $475,000 in gross proceeds. In accordance with Nasdaq Listing Rule 5635(d), the agreement has a price reset clause that makes sure any future adjustments don’t bring the share price below the minimum of $2.56.
These strategic moves demonstrate NCPL’s dedication to long-term shareholder value development and innovation.
