# 3 E Network Agrees to $5 Million Private Share Placement By John Kim Canonical URL: https://www.tokenpost.com/news/business/39579 Published: 2026-10-24T03:06:49.000Z Updated: 2026-10-24T03:06:49.000Z Section: Business > The agreement covers 2.75 million post-consolidation shares. Issuance is conditional and cannot begin before Oct. 30. 3 E Network Technology Group Limited agreed to sell 2.75 million shares for $5 million, adding financing for the Nasdaq-listed company as issuance remains conditional and cannot begin before Oct. 30. The subscription agreement covers 2,751,789 Class A ordinary shares at approximately $1.8170 per share on a post-consolidation basis. The price is approximate and rounded, and the placement would generate $5 million in gross proceeds. 3E NETWORK TECHNOLOGY PTE. LTD., controlled by CEO and director Dr. Tingjun Yang, agreed to buy 1,157,823 shares for $2,103,764.12. Each of six individual purchasers agreed to buy 265,661 shares for $482,705.98. The purchasers’ obligations are several and not joint. The company’s audit committee approved the placement, including Yang’s participation as a related party, and recommended that the board approve it. The board approved the transaction. The shares have not yet been issued. Issuance remains subject to the agreement’s conditions and is barred until at least Oct. 30, 2026. The company plans to direct the proceeds to working capital, routine operations and other lawful corporate uses. The shares will be unregistered and offered under the registration exemption under Section 4(a)(2) and Rule 506(b) of Regulation D. The financing follows the company’s Oct. 22 start of shipments under an [approximately $5 million storage contract](), a separate development. ## Links in this article - [approximately $5 million storage contract](https://www.tokenpost.com/news/business/38466)