Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 118

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 118
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 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 investment,
even if our public shareholders experience a negative rate of return on their investment. As a result, the Selling Shareholder is able
to recognize a greater return on their investment than shareholders that acquired Class A Ordinary Shares in the public market. Pursuant
to the Securities Purchase Agreement and in connection with this offering, (i) up to 10,476,190 Class A Ordinary Shares underlying the
Convertible Notes may be issued with the conversion price per share equal to the lower of US$3.71 or 93% of the lowest daily VWAP in the
ten trading days immediately preceding the applicable conversion date, (ii) up to 4,190,490 Class A Ordinary Shares underlying the Warrants
may be issued with the exercise price per share of US$3.71 and (iii) 1,248,611 Pre-Delivery Shares pre-funded warrants to purchase an
additional 213,389 Pre-Delivery Shares may be issued at a price per share equal to 93% of the average of daily VWAPs for the ten trading
days immediately preceding such purchase of the Pre-Delivery Shares; provided, pursuant to the L1 Letter Agreement entered into between
us and the Selling Shareholder on October 14, 2025, that the Class A Ordinary Shares shall not be converted below a Floor Price equal
to US$0.63, which represents 20% of the Minimum Price (as defined by Nasdaq Rules) as of June 9, 2025, the date of execution of the Securities
Purchase Agreement, and the exercise price of the Warrants shall not be below such Floor Price. In the event the applicable conversion
price or exercise price, as applicable, would otherwise be below such Floor Price, the Company will issue shares at the Floor Price and
pay the