Netcapital Inc. struck a deal to acquire all of the mortgage banking assets and assumed liabilities of Resmac Inc. from parent company RezyFi Inc., a move that would create a new residential mortgage subsidiary and potential spinout.

Netcapital, a Boston-based capital markets technology firm, announced Thursday that it signed a nonbinding letter of intent (LOI) with RezyFi. Under the terms, a newly formed and wholly owned South Dakota subsidiary, SD Holdco, would purchase the Resmac assets in an all-stock deal valued at $5 million.

Resmac is a residential mortgage bank that operates in 11 states and originated about $110 million details ⇒

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