3 E Network Technology Group Limited Announces Closing of Nasdaq Initial Public Offering
10 Janvier 2025 - 8:00PM
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 initial public offering (the “Offering”) of
1,250,000 Class A ordinary shares at a public offering price of
US$4.00 per share. The Class A ordinary shares began trading on the
Nasdaq Capital Market on January 8, 2025 under the ticker symbol
“MASK.”
The Company raised aggregate gross proceeds of
US$5.00 million from the Offering, before deducting underwriting
commissions and discounts and other related expenses payable by the
Company. In addition, the Company has granted the underwriters an
option, exercisable within 45 days from the date of the final
prospectus, to purchase up to an aggregate of 187,500 additional
Class A ordinary shares at the public offering price, less
underwriting commissions and discounts.
Proceeds from the Offering will be used for (i)
expansion of current businesses; (ii) general working capital;
(iii) research and development; and (iv) talent development and
management.
The Offering was conducted on a firm commitment
basis. Craft Capital Management LLC and Boustead Securities, LLC
acted as the underwriters (collectively, the “Underwriters”) for
the Offering. Gunderson Dettmer Stough Villeneuve Franklin &
Hachigian, LLP acted as U.S. counsel to the Company, and Sichenzia
Ross Ference Carmel LLP acted as U.S. counsel to the Underwriters
in connection with the Offering.
A registration statement on Form F-1 relating to
the Offering has been filed with the U.S. Securities and Exchange
Commission (the "SEC") (Registration No.: 333-276180) and was
declared effective by the SEC on December 20, 2024.
The Offering was made only by means of a
prospectus, forming a part of the effective registration statement.
Copies of the final prospectus relating to the Offering, when
available, may be obtained from Craft Capital Management LLC by
email at info@craftcm.com, by standard mail to 377 Oak St,
Lower Concourse, Garden City, NY 11530, or by telephone at +1 (800)
550-8411; or from Boustead Securities, LLC by email at
info@boustead1828.com, by standard mail to 6 Venture Ste 395,
Irvine, CA 92618, or by telephone at +1 (949) 502-4408. In
addition, copies of the final prospectus relating to the Offering,
when available, may be obtained via the SEC's website at
www.sec.gov.
This press release does not constitute an offer
to sell, or the solicitation of an offer to buy any of the
Company’s securities, nor shall there be any offer, solicitation or
sale of any of the Company’s securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of 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. Through its two subsidiaries, Guangzhou Sanyi
Network and Guangzhou 3E Network, 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.
Safe Harbor 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 find many (but not all) of these statements by
the use of words such as “approximates,” “believes,” “hopes,”
“expects,” “anticipates,” “estimates,” “projects,” “intends,”
“plans,” “will,” “would,” “should,” “could,” “may” or other similar
expressions in this prospectus. 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
SEC.
For more information, please
contact:
3 E Network Technology Group
Limited Investor Relations DepartmentEmail:
ird@3ekeji.cn
3 E Network Technology (NASDAQ:MASK)
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