3 E Network Technology Group Limited Announces Closing of US$5.0 million Private Placement

Rhea-AI Summary

3 E Network Technology Group (Nasdaq: MASK) closed its previously announced US$5.0 million private placement of Class A ordinary shares.

The purchase price was approximately US$3.634 per share. Under the October 23, 2026 subscription agreement, an entity controlled by CEO Dr. Tingjun Yang agreed to purchase 578,911 shares for $2,103,764.12, while six individual investors each agreed to purchase 132,830 shares for $482,705.98. These terms are on a post-share consolidation basis. The company intends to use the proceeds for working capital, ordinary business operations and other lawful corporate purposes.

1 point · 1 major

MixediHow this balance works

How this balance works

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How the balance worksHow Sentiment works

1 major · 1 point

How the balance works

Positive

• Major pointPrivate placement closed, raising US$5.0 million. 2.1× market cap

Negative

• Major pointClass A share issuance at approximately US$3.634 per share dilutes existing holders.

News Explained

The issued shares remain subject to U.S. resale limits unless registered or covered by an exemption.

The company closed its US$5.0 million placement of Class A shares, receiving proceeds while increasing the share base and diluting existing holders’ percentage ownership.

The shares were sold without registration and may not be offered or sold in the United States unless registered or an exemption applies.

Key Figures

Private placement: US$5.0 million Purchase price: approximately US$3.634 per share Yang Investor subscription: 578,911 shares for $2,103,764.12 +1 more

Private placement

US$5.0 million

Closed Nov. 13, 2026

Purchase price

approximately US$3.634 per share

Class A ordinary shares

Yang Investor subscription

578,911 shares for $2,103,764.12

Post-share consolidation basis

Individual purchaser subscription

132,830 shares for $482,705.98

Each of six individual purchasers; post-share consolidation basis

Previous Private placement Reports

1 past event · Latest: Oct 27

Same Type 1 event

1. Oct 27

   Private placement

   24h Move

   -3.7%

   Outlined planned uses for this placement: AI development, Finland infrastructure, and storage-order working capital.

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 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.

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HONG KONG, Nov. 13, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3e Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, today announced the closing of its previously announced private placement of Class A ordinary shares, par value US$0.01 per share, at a purchase price of approximately US$3.634 per share (the “Private Placement”).

Under the subscription agreement dated October 23, 2026 (the “Subscription Agreement”), entered into by the Company, 3E NETWORK TECHNOLOGY PTE. LTD., an entity controlled by the Company’s Chief Executive Officer, Dr. Tingjun Yang (the “Yang Investor”), and six individual investors (together with the Yang Investor, the “Purchasers”), the Yang Investor agreed to subscribe for 578,911 Class A Ordinary Shares for $2,103,764.12, and each of the six individual purchasers agreed to subscribe for 132,830 Class A Ordinary Shares for $482,705.98, in each case on a post-share consolidation basis. Each Purchaser’s obligations are several and not joint. The closing of the US$5.0 million Private Placement occurred on November 13, 2026.

The Company intends to use the proceeds from the Private Placement for general working capital and ordinary course business operations, and other lawful corporate purposes determined by the Company in its reasonable discretion, in compliance with applicable laws and regulations. The financing is expected to strengthen 3e Network's capital base and support its continued development as a Nasdaq-listed company. The financing reflects Dr. Yang’s and the other investors’ confidence in the Company’s growth prospects.

The securities sold in the Private Placement were offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and applicable state securities laws. The securities have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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 excellent 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 occurring 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 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: ird@3emask.com
Website: https://3emask.com/

FAQ

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How much did 3 E Network (MASK) raise in its private placement, and at what price?

3 E Network closed a US$5.0 million private placement on November 13, 2026, at approximately US$3.634 per Class A ordinary share. The subscription terms were stated on a post-share consolidation basis.