Why Netcapital Shares Are Trading Sharply Lower During Tuesday's After-Hours Session

Netcapital Inc NCPL shares are trading lower by 15.45% to $1.86 during Tuesday's after-hours session. The company announced that it intends to offer to sell shares of its common stock in an underwritten public offering.

All of the shares of common stock are to be sold by Netcapital. The company intends to use the net proceeds from the offering primarily for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

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According to data from Benzinga Pro, NCPL has a 52-week high of $15.00 and a 52-week low of $1.15.