Guangzhou, China-based 3 E Network Technology Group Limited (the “Company” or “3e Network”) (Proposed Nasdaq Ticker: MASK), a B2B IT solutions provider, priced its initial public offering (IPO) of 1,250,000 Class A ordinary shares at US$4.00 per share. These shares are approved for listing on the Nasdaq Capital Market and are anticipated to begin trading on January 8, 2025, under the ticker symbol “MASK.”
The Company projects gross proceeds of approximately US$5.00 million from the IPO, excluding the underwriters’ potential exercise of an option to purchase up to 187,500 additional shares within 45 days of the final prospectus, and before accounting for underwriting commissions, discounts, and other expenses. The offering’s closing is expected around January 10, 2025, contingent upon customary closing conditions.
Proceeds will fund business expansion, working capital, research and development, and talent development and management.
Craft Capital Management LLC and Boustead Securities, LLC are the underwriters for the firm commitment offering. Legal counsel for the Company is Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, and Sichenzia Ross Ference Carmel LLP represents the underwriters.
The SEC declared effective the Form F-1 registration statement (Registration No.: 333-276180) for the offering on December 20, 2024.
The offering is solely through a prospectus included in the effective registration statement. Prospectuses are available from Craft Capital Management LLC (email: [email protected], mail: 377 Oak St, Lower Concourse, Garden City, NY 11530, phone: +1 (800) 550-8411); Boustead Securities, LLC (email: [email protected], mail: 6 Venture Ste 395, Irvine, CA 92618, phone: +1 (949) 502-4408); or the SEC website: [website address].
Before investing, review the prospectus and other SEC filings. This release does not constitute an offer to sell or a solicitation to buy securities where prohibited by law.
About 3 E Network Technology Group Limited
3 E Network Technology Group Limited is a B2B IT solutions provider. Through its subsidiaries, Guangzhou Sanyi Network and Guangzhou 3E Network, it initially provided integrated software and hardware for property management and exhibitions, expanding to serve food establishments, real estate, conferences, and clean energy. Its business includes software development and exhibition/conference services. Visit [website address] for more information.
Safe Harbor Statements
This announcement contains forward-looking statements, including regarding the IPO. These statements involve risks and uncertainties and are based on current expectations. Words like “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” and similar expressions often identify these statements. The Company is not obligated to update forward-looking statements unless required by law. While the Company believes these statements are reasonable, actual results may differ materially. Investors should review the Company’s registration statement and other SEC filings.
For more information, please contact:
3 E Network Technology Group Limited
Investor Relations Department
Email: [email address]
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