3 E Network Announces Entry into Material Definitive Agreement, Related Party Transaction and Unregistered Sale of Equity Securities
3 E Network Technology Group (Nasdaq: MASK) signed a subscription agreement for a $5 million unregistered private placement of 2,751,789 Class A ordinary shares at approximately US$1.8170 per share on a post-consolidation basis. The largest subscriber, 3E NETWORK TECHNOLOGY PTE. LTD., is controlled by CEO Dr. Tingjun Yang and subscribed $2,103,764.12, making this a related-party transaction approved by the Audit Committee and Board.
Key figures
- Deal Value Usd
- 5000000
- Offering Price
- 1.817
- Shares Offered
- 2751789
- Par value
- $0.005
- Reverse split ratio
- 2-for-1
- Related party shares
- 1157823
- Individual purchasers
- 6
- Related party subscription usd
- $2,103,764.12
AI analysis
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