STOCK TITAN

NetClass Technology raises $318K in share sale

The share issuance covered both a priced investor sale and separately specified share compensation for three service providers.

Available on EDGAR Accepted by SEC EDGAR Learn about SEC filing dates
(Moderate)

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
6-K

Rhea-AI Filing Summary

NetClass Technology Inc (NTCL) issued 1,590,000 Class A ordinary shares to certain investors on October 29, 2026, under a securities purchase agreement dated October 28, 2026, at US$0.20 per share for aggregate consideration of US$318,000. The board approved the issuance. The shares were issued as restricted securities in reliance on Section 4(a)(2) or Regulation S.

NetClass also issued shares as consideration for services: 550,000 shares to Forward Sight Company Limited for a four-month campus electronic class board management system development project; 540,000 shares to Simeon Fine Company Limited for a Chinese language intensive training system project running through March 31, 2027; and 500,000 shares to Layou Fortune Holding Company Limited for 24 months of market promotion and strategic advisory services related to the company’s AI cloud services business. The service agreements were dated October 20, 2026.

SPA shares issued 1,590,000 Class A ordinary shares Issued to the buyers on October 29, 2026
Purchase price US$0.20 per share Price under the securities purchase agreement
Aggregate consideration US$318,000 For the SPA shares
Forward Sight service shares 550,000 shares Consideration for the campus electronic class board management system project
Simeon Fine service shares 540,000 shares Consideration for the Chinese language intensive training system project
Layou Fortune service shares 500,000 shares Consideration for AI cloud services market promotion and strategic advisory services
PIPE financial
"the PIPE"
A PIPE (private investment in public equity) is a deal in which institutional or accredited investors buy shares or convertible securities directly from a publicly traded company, usually at a discount to the market price. Companies use PIPEs to raise money faster than through a traditional public offering; for existing shareholders they matter because the newly issued shares add to the share count and can dilute ownership.
restricted securities regulatory
"being issued as restricted securities"
Restricted securities are shares or other investment instruments that come with legal or contractual limits on when and how they can be sold, like stock given to founders or bought in a private offering. Think of them as assets in a locked box that can’t be freely traded until certain conditions — such as a waiting period, company registration, or specific approvals — are met. For investors this matters because restricted securities are less liquid and can affect timing, price, and perceived value when they eventually enter the market.
Regulation S regulatory
"Regulation S promulgated under the Securities Act of 1933"
Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.
securities purchase agreement financial
"entered into a securities purchase agreement"
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did NTCL sell in its October 2026 PIPE?

NetClass agreed to sell 1,590,000 Class A ordinary shares at US$0.20 per share for aggregate consideration of US$318,000. The company issued the shares to the buyers on October 29, 2026.

How many NTCL shares did the service providers receive?

NetClass issued 550,000 shares to Forward Sight Company Limited, 540,000 shares to Simeon Fine Company Limited, and 500,000 shares to Layou Fortune Holding Company Limited on October 29, 2026, as consideration under their service agreements.

How long do NTCL's service agreements run?

The Forward Sight agreement covers four months beginning October 20, 2026. The Simeon Fine agreement runs from October 20, 2026, through March 31, 2027. The Layou Fortune agreement covers 24 months beginning October 20, 2026.

How were the NTCL shares issued under the agreements treated?

The Class A ordinary shares issued under the agreements were designated as restricted securities in reliance on Section 4(a)(2) or Regulation S. The board approved the issuance of the investor shares and service shares.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google

 

 

 

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 November 2026

 

Commission File Number:001-42440

 

NETCLASS TECHNOLOGY INC

(Translation of registrant’s name into English)

 

Unit 11-03, ABI Plaza

11 Keppel Road

Singapore 089057

(Address of principal executive office)

 

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

 

Form 20-F x Form 40-F ¨

 

 

 

 

 

 

On October 20, 2026, the Company entered into a technical development agreement (the “Forward Sight Technical Development Agreement”) with Forward Sight Company Limited (“Forward Sight”), an unaffiliated third party, pursuant to which Forward Sight agreed to provide software design, development and integration services to the Company for the development of a campus electronic class board management system for a period of four months commencing on October 20, 2026. As consideration for the services rendered and to be rendered thereunder, the Company agreed to issue a total of 550,000 Class A Ordinary Shares to Forward Sight within thirty business days after the date of the Forward Sight Technical Development Agreement (the “Forward Sight Technical Services Shares”).

 

On October 20, 2026, the Company entered into a technical development agreement (the “Simeon Fine Technical Development Agreement”) with Simeon Fine Company Limited (“Simeon Fine”), an unaffiliated third party, pursuant to which Simeon Fine agreed to provide software design, development and integration services to the Company for the development of a Chinese language intensive training system for a period from October 20, 2026 to March 31, 2027. As consideration for the services rendered and to be rendered thereunder, the Company agreed to issue a total of 540,000 Class A Ordinary Shares to Simeon Fine within thirty business days after the date of the Simeon Fine Technical Development Agreement (the “Simeon Fine Technical Services Shares”).

 

On October 20, 2026, the Company entered into a consulting services agreement (the “Consulting Services Agreement”) with LAYOU FORTUNE HOLDING COMPANY LIMITED (“Layou Fortune”, together with Forward Sight and Simeon Fine, the “Service Providers”), an unaffiliated third party, pursuant to which Layou Fortune agreed to provide professional market promotion and strategic advisory services to the Company in relation to its AI cloud services business for a period of twenty-four months commencing on October 20, 2026. As consideration for the services rendered and to be rendered thereunder, the Company agreed to issue a total of 500,000 Class A Ordinary Shares to Layou Fortune within thirty business days after the date of the Consulting Services Agreement (the “Consulting Services Shares”, together with the Forward Sight Technical Services Shares and the Simeon Fine Technical Services Shares, the “Services Shares”).

 

On October 28, 2026, NETCLASS TECHNOLOGY INC (the “Company”) entered into a securities purchase agreement (the “SPA”) with certain investors (the “Buyers”), pursuant to which the Company agreed to issue and sell to the Buyers an aggregate of 1,590,000 Class A ordinary shares (the “Class A Ordinary Shares”) of the Company, par value US$0.0125 per share (the “SPA Shares”), at a purchase price of US$0.20 per share, for an aggregate consideration of US$318,000 (the “PIPE”).

 

On October 29, 2026, the Company issued the SPA Shares to the Buyers and the Services Shares to the Service Providers pursuant to the terms of their respective agreements with the Company. The issuance of the SPA Shares and the Services Shares has been approved by the board of directors of the Company.

 

The foregoing descriptions of the SPA, the Forward Sight Technical Development Agreement, the Simeon Fine Technical Development Agreement, and the Consulting Services Agreement (collectively, the “Agreements”) do not purport to be complete and are qualified in their entirety by reference to the full text of such Agreements, copies of which are filed as Exhibits to this Report on Form 6-K and incorporated by reference herein. The Class A Ordinary Shares issuable under the Agreements are being issued as restricted securities in reliance on Section 4(a)(2) of or Regulation S promulgated under the Securities Act of 1933, as amended.

 

This Report on Form 6-K is incorporated by reference into the Company’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on April 2, 2025 (Registration No. 333-286348) and the Company’s Registration Statement on Form F-3 filed with the Securities and Exchange Commission on December 29, 2025 (Registration No. 333-292458).

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
10.1   Securities Purchase Agreement, dated October 28, 2026
10.2   Forward Sight Technical Development Agreement, dated October 20, 2026
10.3   Simeon Fine Technical Development Agreement, dated October 20, 2026
10.4   Consulting Services Agreement, dated October 20, 2026

 

 

 

 

SIGNATURES

 

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.

 

  NETCLASS TECHNOLOGY INC
   
Date: November 2, 2026 By: /s/ Jianbiao Dai
  Name: Jianbiao Dai
  Title: Chief Executive Officer
    (Principal Executive Officer)

 

 

 

Filing Exhibits & Attachments

4 documents

Keep reading