3 E Network Announces Closing of $1.0 Million Private Placement with CEO-Affiliated Entity

3 E Network secures $1.0 million from a CEO-affiliated investor to fund AI-focused development, working capital, and technical hiring.

Rhea-AI Summary

3 E Network Technology Group (MASK) closed a previously announced $1.0 million private placement on Sept. 21, 2026 with an entity affiliated with its Chief Executive Officer, and has received the proceeds.

The company states that the closing and funding highlight management’s commitment to its artificial intelligence strategy and long-term objectives. 3 E Network intends to use the net proceeds to support research, development and commercialization of its integrated hardware and software solutions, supplement working capital, and recruit technical personnel to advance its AI development plans and business roadmap.

Positive

• $1.0 million private placement closed and fully funded
• Proceeds earmarked for R&D, commercialization, working capital, and technical hiring

Negative

• None.

News Explained

The funded placement is closed, but the release leaves its effect on existing ownership undetermined.

The company has closed and received the $1.0 million private placement, but the release does not identify the securities issued or disclose dilution, conversion, or ownership terms, so the immediate ownership effect on existing shareholders cannot be established.

A private placement is a sale of securities to selected investors outside a public offering; resale may require a later registration statement, but this release does not say whether one will be filed for this transaction.

Market Context

The Sep 2 private placement announcement was followed by -0.73% in 24-hour price reaction; the curre...

Analysis

The Sep 2 private placement announcement was followed by -0.73% in 24-hour price reaction; the current release confirmed the same CEO-affiliated financing had closed and proceeds were received.

Key Figures

Private placement: $1.0 million

Private placement

$1.0 million

Closing with a CEO-affiliated entity

Previous Private placement Reports

1 past event · Latest: Sep 02

Same Type 1 event

1. Sep 02

   Private placement terms

   24h Move

   -0.7%

   Announced CEO-led $1 million placement for 701,272 Class A shares at $1.42598.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

private placement

1 terms

private placement financial

"closing of its previously announced $1.0 million private placement"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HONG KONG, Sept. 21, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3 E Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, committed to becoming a next-generation artificial intelligence (“AI”) infrastructure solutions provider, today announced the closing of its previously announced $1.0 million private placement with an entity affiliated with the Company’s Chief Executive Officer. The Company has received the proceeds from the private placement.

The Company announced the transaction in early September. The closing and funding of this private placement underscore the CEO’s and management’s ongoing commitment to the Company’s AI strategy and its long-term business objectives.

The Company intends to use the net proceeds to support the ongoing research, development, and commercialization of its integrated hardware and software solutions, supplement working capital, and recruit technical personnel.

“The proceeds provide additional resources for our planned development activities,” stated Dr. Tingjun Yang, Chief Executive Officer of 3 E Network. “We intend to use this capital to advance our AI development plans, implement our business roadmap, and work toward generating long-term value for our shareholders.”

About 3 E Network Technology Group Limited
3 E Network Technology Group Limited is a business-to-business (“B2B”) information technology (“IT”) business solutions provider committed to becoming a next-generation artificial intelligence (“AI”) infrastructure solutions provider. It upholds the industry consensus of “AI and energy symbiosis” and has a strong vision in the field of energy investment. The Company’s business comprises two main portfolios: the data center operation services portfolio and the software development portfolio. For more information, please visit the Company’s website at https://3emask.com/.

Forward-Looking Statements
Certain statements 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 about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect the Company’s 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: ird@3emask.com
Website: https://3emask.com/