Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 119

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 119
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 Shares are issued upon the Securities Purchase Agreement and exercise
of outstanding options we may grant from time to time.

Substantial future sales or perceived
potential sales of our Class A Ordinary Shares in the public market could cause the price of our Class A Ordinary Shares to decline.

Sales of our Class A Ordinary Shares in the public
market, or the perception that these sales could occur, could cause the market price of our Class A Ordinary Shares to decline. As of
the date of this prospectus, we have 12,498,611 Class A Ordinary Shares issued and outstanding. Pursuant to the Securities Purchase Agreement dated June 9, 2025, entered into between us and the Selling Shareholder, we agreed to sell
and issue up to US$7.4 million in face value of Convertible Notes and Warrants to the Selling Shareholder to purchase a certain number
of Class A Ordinary Shares in three tranches, which contemplates (i) the first tranche consisting of up to US$2.2 million in principal
amount of Convertible Notes and Warrants, and 1,248,611 Pre-Delivery Shares and pre-funded warrants to purchase an additional 213,389
Pre-Delivery Shares, (ii) the second tranche consisting up to US$2.2 million in principal amount of Convertible Notes, to be issued pursuant
to the terms and conditions of the Securities Purchase Agreement and (iii) the third tranche consisting of up to US$3.0 million in principal
amount of Convertible Notes, which may be issued by mutual agreement within 180 days after the second tranche closing. As a result, there
may be substantial future sales or the perception of potential sales of our Class A Ordinary Shares by the Selling Shareholder in the
public market following the effectiveness of each resale registration statement. Such actual or anticipated sales could put downward pressure
on the market price of our Class A Ordinary Shares.

The Selling Shareholder may acquire their
Class A Ordinary Shares at a price that is less than the market price of the Class A Ordinary Shares in the future, may earn a positive
rate of return even if the price of the Class A Ordinary Shares declines and may be willing to sell their Class A Ordinary Shares at a
price less than shareholders that acquired Class A Ordinary Shares in the public market.

The Selling Shareholder may purchase their
respective Class A Ordinary Shares at prices lower than the market prices in the future and may therefore experience a positive rate
of return on their