Loan & DebtJun 23, 2026, 04:11 PM
3 E Network Closes $1.5M Convertible Note Offering
AI Summary
3 E Network Technology Group Ltd announced the closing of an offering for a convertible promissory note with an initial principal amount of $1,500,000. This offering, which included a warrant to purchase up to 468,978 Class A ordinary shares, generated aggregate gross proceeds of $1,380,000 in the initial closing. A subsequent closing is planned for an additional $500,000 principal amount of the note, which will bring in an extra $460,000 in gross proceeds, contingent on the effectiveness of a resale registration statement.
Key Highlights
- Closed offering of a convertible promissory note with initial principal amount of $1,500,000.
- Received aggregate gross proceeds of $1,380,000 from the initial closing.
- Issued a warrant to purchase up to 468,978 Class A ordinary shares.
- Warrant exercisable at an initial price of $2.712 per share, expiring June 23, 2031.
- Subsequent closing for an additional $500,000 principal amount of note for $460,000 gross proceeds.
- Company to file a resale registration statement (Form F-3 or F-1) within 15 business days.
Price Impact
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