3 E Network Technology Group Limited has announced the initial closing of a convertible promissory note offering, raising US$1.38 million in gross proceeds. The initial closing involved a note with a principal amount of US$1.5 million and a warrant to purchase up to 468,978 Class A ordinary shares, as part of a larger US$2 million offering that includes a subsequent closing of an additional US$500,000 principal amount note for US$460,000 in gross proceeds upon a resale registration statement becoming effective. The warrant has an initial exercise price of US$2.712 per share and expires on June 23, 2031. Boustead Securities, LLC acted as placement agent for the private offering to an institutional investor.
3 E Network Technology Group Ltd Class A Ordinary SharesCompany raised $1.38M via convertible note offering, providing capital.
Boustead Securities acted as placement agent, earning fees.