3 E Network Technology (MASK) announced that it has completed the first tranche of its previously disclosed three-tranche private offering, announced on June 9, 2025, and intends to use part of the proceeds to purchase Bitcoin (BTC). This strategic move aims to build the Company’s cryptocurrency reserves and support its growth initiatives in the Web 3.0 era. The Offering involves the issuance of up to $7.4 million in aggregate principal amount of senior secured convertible notes and accompanying warrants in three tranches to an institutional investor. The first tranche, consisting of $2.2 million in principal amount of Notes and related Warrants, was issued in two installments and closed on July 8, 2025.
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