STOCK TITAN

3 E Network plans $1M CEO-led share sale

Under the agreement, 3E Network will issue 701,272 Class A shares at $1.42598 each for $1,000,000 in cash proceeds, a related-party deal approved by independent directors.

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

3 E Network Technology Group Limited (MASK) entered into a Subscription Agreement for a CEO-led private placement of its Class A ordinary shares. The Company will issue 701,272 Class A shares, par value $0.0025 per share, to 3E Network Technology PTE. LTD., a Singapore company controlled by CEO and director Dr. Tingjun Yang, at $1.42598 per share, for $1,000,000 in aggregate gross cash proceeds. The closing will occur on a mutually agreed date, subject to customary closing conditions. The transaction is an unregistered offering relying on Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D, and the shares are restricted from U.S. resale absent registration or an exemption. Because the investor is controlled by Dr. Yang, it is a related-party transaction under Nasdaq Listing Rule 5630; the audit committee of independent directors reviewed and approved it, and the board then approved it. The Company intends to use the net proceeds for working capital and general corporate purposes, and no placement agents, finders, or commissions are involved.

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Class A shares issued in private placement 701,272 shares Aggregate Class A ordinary shares to be sold under the Subscription Agreement
Purchase price per share $1.42598 per share Price for each Class A ordinary share in the private placement
Aggregate gross cash proceeds $1,000,000 Total gross proceeds to the Company from the private placement
Par value per Class A ordinary share $0.0025 per share Par value of the Company’s Class A ordinary shares
Form type Form 6-K Report of Foreign Private Issuer for September 2026
Private placement announcement date September 2, 2026 Date the Company entered into the Subscription Agreement
Private Placement financial
"for a private placement (the “Private Placement”) of an aggregate of 701,272"
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.
Section 4(a)(2) regulatory
"in reliance on the exemption from registration provided by Section 4(a)(2)"
Section 4(a)(2) is a part of U.S. securities laws that allows companies to sell their stock directly to certain investors without registering the sale with regulators. This process is often used for private placements, making it easier and faster for companies to raise money from knowledgeable or institutional investors. It matters to investors because it provides an alternative way to buy shares, often with fewer disclosures and lower costs.
Rule 506(b) of Regulation D regulatory
"and/or Rule 506(b) of Regulation D promulgated thereunder"
Rule 506(b) of Regulation D is a set of rules that allows companies to raise money from investors without having to register with the government, as long as they follow certain guidelines. It lets companies offer securities to a limited number of investors, often trusted or experienced ones, making it easier and quicker to raise funds compared to traditional methods. This rule matters to investors because it provides access to private investment opportunities that are generally less regulated but still require careful consideration.
Nasdaq Listing Rule 5630 regulatory
"a related-party transaction under Nasdaq Listing Rule 5630"
PIPE investment financial
"through this insider PIPE investment"
A pipe investment is a private sale of stock or convertible securities made directly to selected investors by a company that is already publicly traded, allowing the company to raise cash quickly without a full public offering. It matters to investors because it can dilute existing share value and change ownership stakes, but also signals that the company secured financing; like a homeowner taking a quick private loan to cover a repair, it can be a sign of needed funds or investor confidence.

FAQ

What financing transaction did 3 E Network Technology Group Limited (MASK) announce in this 6-K?

The Company entered into a Subscription Agreement for a private placement of 701,272 Class A ordinary shares at $1.42598 per share, providing $1,000,000 in aggregate gross cash proceeds to the Company, subject to customary closing conditions.

Who is investing in the MASK private placement and what is the relationship to the Company?

The investor is 3E Network Technology PTE. LTD., a Singapore company controlled by Dr. Tingjun Yang, the Company’s Chief Executive Officer and a director. This makes the private placement a related-party transaction under Nasdaq Listing Rule 5630.

What will MASK use the $1,000,000 of private placement proceeds for?

The Company states that the net proceeds from the $1,000,000 private placement will be used for working capital and general corporate purposes, without specifying any particular project or acquisition.

Is the MASK private placement registered with the SEC?

No. The Class A shares will be issued and sold in an unregistered offering, relying on Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D. The shares cannot be offered or sold in the U.S. without registration or an applicable exemption.

Were any fees or commissions paid in connection with the MASK private placement?

No. The Company states that no placement agent or underwriter was engaged for the private placement and that no placement agent fees, finder’s fees or commissions are payable.

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Learn about SEC filing dates

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2026

 

Commission file number: 001-42466

 

3 E NETWORK TECHNOLOGY GROUP LIMITED

(Exact name of registrant as specified in its charter)

 

No.118 Connaught Road West, 3003-2

Hong Kong, China, 999077

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒       Form 40-F ☐

 

 

 

 

Entry into Material Definitive Agreement; Related Party Transaction; Unregistered Sale of Equity Securities

 

On September 2, 2026, 3 E Network Technology Group Limited (the “Company”) entered into a subscription agreement (the “Subscription Agreement”) with 3E NETWORK TECHNOLOGY PTE. LTD., a company incorporated under the laws of Singapore and controlled by Dr. Tingjun Yang (“Dr. Yang”), the Company’s Chief Executive Officer and a director (the “Investor”), for a private placement (the “Private Placement”) of an aggregate of 701,272 Class A ordinary shares, par value $0.0025 per share, of the Company (the “Class A Shares”), at a purchase price of $1.42598 per share, representing aggregate gross cash proceeds to the Company of $1,000,000. The closing of the Private Placement will take place on such date as the parties may mutually agree in writing, subject to customary closing conditions.

 

The Class A Shares to be issued and sold under the Subscription Agreement will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. The Company relied on such exemption from registration based in part on representations made by the Investor. The Class A Shares may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither this Report of Foreign Private Issuer on Form 6-K nor the exhibit attached hereto constitutes an offer to sell or the solicitation of an offer to buy the securities described herein.

 

Because the Investor is controlled by Dr. Yang, the Company’s Chief Executive Officer and a director, the Investor’s subscription in the Private Placement constitutes a related-party transaction under Nasdaq Listing Rule 5630. The Audit Committee of the Board of Directors, consisting entirely of independent directors, reviewed and approved the Private Placement and recommended that the Board of Directors approve the Private Placement and the transactions contemplated by the Subscription Agreement. The Board of Directors subsequently approved the Private Placement and the transactions contemplated by the Subscription Agreement.

 

The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes. No placement agent or underwriter was engaged in connection with the Private Placement, and no placement agent fees, finder’s fees or commissions are payable.

 

The foregoing description of the Subscription Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Subscription Agreement, a copy of which is furnished as Exhibit 10.1 to this Report on Form 6-K and incorporated herein by reference.

 

Safe Harbor Statement

 

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.

 

1

 

EXHIBITS

 

Exhibit No.   Description
10.1   Form of Subscription Agreement
99.1   Press Release

 

2

 

Signature

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  3 E Network Technology Group Limited
   
  By: /s/ Hailiang Jia
  Name: Hailiang Jia
  Title: Chief Financial Officer

 

Date: September 2, 2026

 

3

Exhibit 99.1

 

3 E Network Enters into $1M Private Placement to CEO-Led Entity at $1.426 Per Share

 

HONG KONG, China, September 2, 2026 (GLOBE NEWSWIRE) – 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3 E Network”) entered into a subscription agreement (the “Subscription Agreement”) with 3E NETWORK TECHNOLOGY PTE. LTD., a company incorporated under the laws of Singapore and controlled by Dr. Tingjun Yang (“Dr. Yang”), the Company’s Chief Executive Officer and a director (the “Investor”), for a private placement (the “Private Placement”) of an aggregate of 701,272 Class A ordinary shares, par value $0.0025 per share, of the Company (the “Class A Shares”), at a purchase price of $1.42598 per share, representing aggregate gross cash proceeds to the Company of $1,000,000. The closing of the Private Placement will take place on such date as the parties may mutually agree in writing, subject to customary closing conditions.

 

The Class A Shares to be issued and sold under the Subscription Agreement will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. The Company relied on such exemption from registration based in part on representations made by the Investor. The Class A Shares may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 

Because the Investor is controlled by Dr. Yang, the Company’s Chief Executive Officer and a director, the Investor’s subscription in the Private Placement constitutes a related-party transaction under Nasdaq Listing Rule 5630. The Audit Committee of the Board of Directors, consisting entirely of independent directors, reviewed and approved the Private Placement and recommended that the Board of Directors approve the Private Placement and the transactions contemplated by the Subscription Agreement. The Board of Directors subsequently approved the Private Placement and the transactions contemplated by the Subscription Agreement.

 

“I am pleased to demonstrate my continued confidence in 3 E Network through this insider PIPE investment,” said Dr. Tingjun Yang, “The net proceeds from this financing, after deducting offering expenses, will be strategically allocated to expand our general corporate purposes and working capital. I believe this additional capital will strengthen our ability to execute on our growth strategy, accelerate innovation, and deliver long-term value to our shareholders.”

 

The foregoing description of the Subscription Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Subscription Agreement. No placement agent or underwriter was engaged in connection with the Private Placement, and no placement agent fees, finder’s fees or commissions are payable.

 

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/

Filing Exhibits & Attachments

2 documents