3 E Network signs $5 million share private placement deal
MASK•3 E Network agreed to raise $5 million through a private placement of 2,751,789 unregistered Class A ordinary shares at approximately $1.817 per share, on a post-consolidation basis.
1. Placement details
3 E Network agreed on October 23, 2026, to sell 2,751,789 unregistered Class A ordinary shares for $5 million. An investor controlled by CEO Tingjun Yang will purchase 1,157,823 shares in a related-party transaction, with six individuals buying the remainder.
2. Timing and proceeds
The issuance remains conditional and cannot occur before October 30, 2026, the expected trading date following a two-for-one share consolidation. The company intends to use the proceeds for working capital, ordinary business operations and other lawful corporate purposes.
