3 E Network Technology Group Limited Announces Use from First Tranche Private Offering Proceeds to Purchase Bitcoin and Advance Web 3.0 Strategy

Rhea-AI Summary

3 E Network Technology Group (NASDAQ:MASK), a B2B IT solutions provider, announced the completion of the first tranche of its previously announced three-tranche private offering. The company plans to use part of the proceeds from this first tranche to purchase Bitcoin as part of its Web 3.0 strategy.

The total offering consists of $7.4 million in senior secured convertible notes and warrants to an institutional investor. The first tranche, worth $2.2 million, was issued in two installments and closed on July 8, 2025. This strategic move aims to build the company's cryptocurrency reserves and support its growth initiatives in the Web 3.0 space.

Positive

• Strategic investment in Bitcoin to support Web 3.0 initiatives
• Successfully secured first tranche of $2.2 million from private offering

Negative

• Potential dilution from convertible notes and warrants
• Taking on additional debt through senior secured convertible notes

Hong Kong, China, July 28, 2025 (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 that it has completed the first tranche of its previously disclosed three-tranche private offering (the “Offering”), announced on June 9, 2025, and intends to use part of the proceeds to purchase Bitcoin. This strategic move aims to build the Company’s cryptocurrency reserves and support its growth initiatives in the Web 3.0 era.

The Offering involves the issuance of up to $7.4 million in aggregate principal amount of senior secured convertible notes (the “Notes”) and accompanying warrants (the “Warrants”) in three tranches to an institutional investor. The first tranche, consisting of $2.2 million in principal amount of Notes and related Warrants, was issued in two installments and closed on July 8, 2025.

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. Through its two subsidiaries, Guangzhou 3e Network technology company limited (PRC) and 3E Network technology company limited (Hong Kong), the Company began by offering integrated software and hardware solutions for the property management and exhibition services spaces. Over time, 3 E Network expanded its software solutions offerings to serve a variety of sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The Company’s business comprises two main portfolios: the software development portfolio and the exhibition and conference portfolio. For more information, please visit the Company’s website at http://ir.3etech.cn.

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@3ekeji.cn

FAQ

What is the total value of MASK's private offering announced in July 2025?

The total private offering amounts to $7.4 million in senior secured convertible notes and warrants, to be issued in three tranches.

How much did MASK raise in the first tranche of its private offering?

MASK raised $2.2 million in the first tranche, which was issued in two installments and closed on July 8, 2025.

How does MASK plan to use the proceeds from its private offering?

MASK plans to use part of the proceeds to purchase Bitcoin to build its cryptocurrency reserves and support its Web 3.0 growth initiatives.

What type of securities did MASK issue in its private offering?

MASK issued senior secured convertible notes and accompanying warrants to an institutional investor.

What is MASK's main business focus?

MASK operates as a business-to-business (B2B) information technology (IT) business solutions provider.