Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 222

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 222
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 Class A Ordinary Shares held by Lang Wide Investment INC. |

116

#### THE AUGUST 2025 PRIVATE PLACEMENT
On August 1, 2025, the Company entered into the Securities Purchase Agreement with the Selling Shareholder relating to the issuance and sale of (a) the Convertible Note in the principal amount of $2,200,000, at a purchase price of $2,000,000, convertible into Class A Ordinary Shares, and (b) 1,069,500 Class A Ordinary Shares, at a purchase price of $0.00025 per share. Univest Securities, LLC acted as the placement agent (the “Placement Agent”) for the transaction contemplated in this Securities Purchase Agreement. The Company paid placement agent, at closing, a cash fee equal to 8% of the gross proceed, a non-accountable expense equal to 1% of the gross proceed, and accountable expense in the amount of $30,000. The Company has further agreed that the Placement Agent shall be entitled to compensation, calculated 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, which occurred on August 4, 2025.

The Convertible Note will bear an interest rate of 9% per annum. All outstanding principal and accrued interest on the Convertible Note will become due and payable twelve (12) months after the closing date. The Convertible Note includes an original issue discount (the “OID”) of $180,000, In addition, Company paid $20,000 to the Selling Shareholder for the Selling Shareholder’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Convertible Note (the “Transaction Expense Amount”). The OID and the Transaction Expense Amount were included in the initial principal balance of the Convertible Note.

The Selling Shareholder has the right at any time beginning on the earlier of (a) the date that is six (6) months from August 4, 2025, and (b) the effective date of the registration statement of which this prospectus forms a part, until the outstanding balance of the Convertible Note has been paid in full, at its election, to convert