HONG KONG, Oct. 15, 2025 — 3 E Network Technology Group Limited (Nasdaq: MASK) (referred to as “the Company” or “3e Network”), a provider of business-to-business (“B2B”) information technology (“IT”) solutions, today announced modifications to its previously disclosed private placement (the “Offering”) of senior convertible secured notes (the “Notes”).
The Offering, initially announced on June 9, 2025, was structured to include three tranches of Notes and Warrants, totaling a principal amount of $7.4 million. Today, the Company and the Investor executed a letter agreement (the “Letter Agreement”) to amend the Securities Purchase Agreement dated June 9, 2025. Under the terms of the Letter Agreement, the parties have agreed to (i) revise the First Tranche Note so that its remaining portion cannot be converted below a minimum price of $0.63 (the “Floor Price”), which represents 20% of the Minimum Price (as defined by Nasdaq Rules) as of the June 9, 2025, execution date of the Securities Purchase Agreement, and (ii) modify the Warrant such that its exercise price will not fall below the Floor Price. Should the applicable conversion price or exercise price otherwise drop below this Floor Price, the Company will issue shares at the Floor Price and compensate the Investor for the resulting economic difference in cash, calculated as specified in the Letter Agreement. Furthermore, pursuant to the Letter Agreement, both parties also agreed that all references to the second and third tranches within the Securities Purchase Agreement are no longer valid and are considered null and void.
The Company plans to allocate the net proceeds toward general corporate purposes, working capital, or other uses that its Board of Directors deems to be in the Company’s best interest.
This press release should not be construed as an offer to sell, or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be illegal prior to registration or qualification under the securities laws of that state or jurisdiction.
About 3 E Network Technology Group Limited
3 E Network Technology Group Limited is an information technology (“IT”) business solutions provider operating in the business-to-business (“B2B”) sector. Through its two subsidiaries, Guangzhou Sanyi Network and Guangzhou 3E Network, the Company initially provided integrated software and hardware solutions for property management and exhibition services. Over time, 3 E Network broadened its software solutions to cater to various industries, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The Company’s operations are divided into two primary portfolios: software development and exhibition and conference services. For more information, please visit the Company’s website at .
Forward-Looking Statements
Certain statements included in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections concerning future events that the Company believes could influence its financial condition, operational results, business strategy, and financial needs. Investors can identify these forward-looking statements by terms or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company does not commit to publicly updating or revising any forward-looking statements to reflect subsequent events, circumstances, or changes in expectations, except as required by law. While the Company believes the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee their accuracy. The Company advises investors that actual results may differ materially from anticipated outcomes and encourages them to review other factors that could impact its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
3 E Network Technology Group Limited
Investor Relations Department
Email:
