Corporate ActionJun 25, 2026, 10:11 AM
3 E Network Technology Group Files F-1 for Resale of 21M Class A Shares
AI Summary
3 E Network Technology Group Limited filed an F-1 registration statement for the resale of up to 21,028,050 Class A Ordinary Shares by a Selling Shareholder. These shares are issuable upon the conversion of a senior secured 8% original issue discount convertible promissory note and the exercise of a Class A ordinary shares purchase warrant. The company received US$1,380,000 in gross proceeds from the initial sale of the convertible note and may receive an additional US$460,000. The company has divested all its PRC subsidiaries and now conducts operations through its Hong Kong subsidiary, focusing on B2B IT solutions and expanding into international data center services with a project in Finland.
Key Highlights
- Registers up to 21,028,050 Class A Ordinary Shares for resale by a Selling Shareholder.
- Shares are issuable from conversion of an 8% OID convertible promissory note and a warrant.
- Company received US$1,380,000 gross proceeds from the initial Convertible Note sale.
- May receive an additional US$460,000 from the remaining principal of the note.
- Floor price for conversion/exercise of shares is US$0.428.
- Company divested all PRC subsidiaries by December 2025, now operates solely via Hong Kong subsidiary.
- Expanding into international data center development with a project in Finland.
- Subject to risks related to Hong Kong's legal system and potential delisting under HFCA Act.
Price Impact
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