On October 23, 2026, 3 E Network Technology Group Limited announced it entered into a subscription agreement for a private placement of Class A ordinary shares.
Private Placement Details
3 E Network Technology Group Limited announced that it entered into a subscription agreement with 3E NETWORK TECHNOLOGY PTE. LTD. and six individual purchasers. The private placement involves an aggregate of 2,751,789 Class A ordinary shares at a purchase price of approximately US$1.8170 per share.
The agreement targets aggregate gross cash proceeds to the company of $5,000,000. The Yang Investor agreed to subscribe for 1,157,823 Class A ordinary shares for $2,103,764.12, while each of the six individual purchasers agreed to subscribe for 265,661 shares for $482,705.98.
Share Consolidation and Approval
The company announced a two-for-one share consolidation, with Class A Ordinary Shares expected to begin trading on a post-consolidation basis on October 30, 2026. The issuance of shares is subject to the satisfaction of applicable conditions and will not occur before the Nasdaq Market Effective Date.
Dr. Tingjun Yang, the company's Chief Executive Officer and a director, controls the Yang Investor, making the subscription a related-party transaction. The Audit Committee and Board of Directors reviewed and approved the private placement.
Key facts and where they come from
- 3 E Network entered into a subscription agreement for a private placement of Class A ordinary shares.
entered into a subscription agreement (the “Subscription Agreement”) with 3E NETWORK TECHNOLOGY PTE. LTD.
- The private placement aims for aggregate gross cash proceeds to the company of $5,000,000.
for aggregate gross cash proceeds to the Company of $5,000,000.
- The company announced a two-for-one share consolidation expected to begin trading on October 30, 2026.
announced a two-for-one share consolidation, with its Class A Ordinary Shares expected to begin trading on a post-consolidation basis on October 30, 2026
