InvestmentJun 23, 2026, 04:26 PM
3 E Network Technology Group Raises $1.84M via Convertible Note
AI Summary
3 E Network Technology Group Ltd entered into a Securities Purchase Agreement with an institutional investor to raise capital. The company will sell a senior secured 8% original issue discount convertible promissory note with a principal amount of up to $2,000,000, generating aggregate gross proceeds of $1,840,000. Additionally, a warrant to purchase up to 468,978 Class A ordinary shares was issued, with an initial exercise price of $2.712 per share. The initial closing for $1,380,000 in gross proceeds occurred on June 23, 2026, with a second closing planned upon registration statement effectiveness.
Key Highlights
- Secured up to $2,000,000 principal amount senior secured 8% convertible note.
- Aggregate gross proceeds of $1,840,000 from the note issuance.
- Initial closing generated $1,380,000 for $1,500,000 principal of the note.
- Warrant issued to purchase up to 468,978 Class A ordinary shares.
- Warrant initial exercise price set at $2.712 per share.
- Warrant exercisable from June 23, 2026, to June 23, 2031.
- Company to file Form F-3 registration statement within 15 business days.
Price Impact
More from MASK