Company: NTCL
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001104659-25-073161
Chunk: 1

Company: NetClass Technology Inc
Filing Date: 2025-08-01
Form: 6-K
Chunk 1
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 as set forth above, in connection with any public or private offering or other financing or capital-raising
transaction of any kind, to the extent such financing or capital is provided by investors introduced to the Company by Placement Agent
prior to the consummation of the Offering, if such transaction is consummated at any time during the period within six (6) months
following the Closing.

Note

The Note will bear an interest rate of 9% per
annum. All outstanding principal and accrued interest on the Note will become due and payable twelve (12) months after the purchase price
of the Note is delivered by the Buyer to the Company (the “Purchase Price Date”). The Note includes an original issue discount
(the “OID”) of $180,000, In addition, Company agrees to pay $20,000 to the Buyer for the Buyer’s legal fees, accounting
costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Note (the “Transaction
Expense Amount”). The OID and the Transaction Expense Amount will be included in the initial principal balance of the Note.

The Note has a conversion price (the “Conversion
Price”) equal to 88% of the lowest daily VWAP (the dollar volume-weighted average price for ordinary shares on the Nasdaq Capital
Market) during the ten (10) consecutive trading days immediately preceding the conversion date or other date of determination, but
not lower than US$0.7106 per Class A Ordinary Share (the “Floor Price”). Buyer has the right at any time beginning on the
earlier of (a) the date that is six months from the Purchase Price Date, and (b) the effective date of the Registration Statement
(as defined below), until the outstanding balance has been paid in full, at its election, to convert all or any portion of the outstanding
balance into fully paid and non-assessable Class A Ordinary Shares (the “Conversion Shares”) as per the following conversion
formula: the number of Conversion Shares equals the amount of the outstanding balance being converted (the “Conversion Amount”)
divided by the Conversion Price. The Company may, with ten trading days’ prior written notice, prepay all or any portion of the
outstanding balance under the Note prior to the Maturity Date at a cash price equal to 120% of the portion of the outstanding balance
to be prepaid.

Upon the occurrence of a Trigger Event (as defined
in the Note), the Buyer shall