netcapital inc shares were down 69 to 255 after the company said it priced an underwritten public offering of 12 million common shares and accompanying warrants to buy up to 12 million shares each share and accompanying warrant is being sold to the public at a price of 415 the proceeds from the offering are expected to be 5 million before deducting underwriting discounts commissions and other offering expenses the warrants will have a per share exercise price of 519 be exercisable immediately and expire five years from the date of issuance the shares of common stock and warrants can only be purchased together in the offering but will be issued separately the company has granted the underwriters a 45day option to purchase up to an additional 180750 shares of common stock andor 180750 additional warrants to purchase common stock solely to cover overallotments if any at the public offering price less the underwriting discount netcapital intends to use the proceeds of the offering for research and development activities sales and marketing general working capital purposes potential acquisitions of other companies products or technologies and to repay certain indebtedness the offering is expected to close on friday