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HONG KONG - 3 E Network Technology Group Limited (NASDAQ:MASK), a technology solutions provider with a market capitalization of $6 million, announced today it has closed a private offering of a $1.5 million convertible promissory note to an institutional investor for gross proceeds of $1.38 million.
The B2B information technology solutions provider said the note is convertible into Class A ordinary shares. As part of the transaction, the company entered into a registration rights agreement requiring it to file a registration statement with the SEC within five business days after submitting its annual report for the fiscal year ended June 30, 2025.
The registration will cover the resale of shares issuable upon conversion of the note, according to the company’s press release statement.
3 E Network Technology Group operates through subsidiaries in Guangzhou and Hong Kong, providing software and hardware solutions initially focused on property management and exhibition services. The company has since expanded its software offerings to serve various sectors including food establishments, real estate, and clean energy utilities.
The company’s business currently comprises two main portfolios: software development and exhibition and conference services.
The company did not specify how it plans to use the proceeds from the offering.
In other recent news, 3E Network Technology Group Limited has announced the approval and adoption of a 2025 Share Incentive Plan, which became effective on October 7, 2025. The company has also amended its private placement of senior convertible secured notes, establishing a floor price of $0.63 for the remaining portion of the first tranche note conversion and warrant exercise price. Additionally, 3E Network received a deficiency notice from Nasdaq for not maintaining the minimum bid price requirement of $1.00 per share, triggered after the shares closed below this threshold for 30 consecutive business days. In response to recent stablecoin regulations in Hong Kong and the United States, the company plans to expand its global mining farm construction and hosting business. Furthermore, 3E Network completed the first tranche of a $7.4 million private offering, securing $2.2 million, and plans to use part of these proceeds to purchase Bitcoin.
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