NetClass Technology prices 1.5M shares at $1.60 in private placement

NETCLASS Technology (NTCL) entered into a securities purchase agreement with an institutional investor relating to a private placement of 1,500,000 Class A ordinary shares at $1.60 per share, for gross proceeds of approximately $2.4M. The transaction is expected to close within 60 days of the date of the Agreement, subject to customary conditions. Under the terms of the Agreement, the Investor will have the right to purchase up to an additional 1,500,000 Class A ordinary shares at $1.60 per share over the next three years following the closing date. The agreement is expected to support NetClass’s strategic plan to broaden the AI application scenarios and further advance the application of blockchain technology. The Company has already deployed AI-assisted language learning systems across multiple universities and is developing additional AI-driven tools to enhance its education portfolio. NetClass is also planning to expand its education chain and strengthen the adoption of EDC token in Singapore, as well as to explore the potential issuance of new tokens. These initiatives are aligned with the Company’s strategic moves to establish a Singapore subsidiary and relocate its global headquarters there. Singapore’s supportive policies for blockchain and AI applications have made it an ideal base for global growth.