Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 52

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 52
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 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”). The Selling Shareholder may at any time beginning on the earlier of (a) the date that is six months from the closing date, and (b) the effective date of the registration statement, until the outstanding balance has been paid in full, in its sole discretion, convert the all or any portion of the outstanding balance into fully paid and non-assessable Class A Ordinary 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 Selling Shareholder may not convert any portion of a Convertible Note if such conversion would result in the Selling Shareholder beneficially owning more than 9.99% of Company’s then issued Class A Ordinary Shares. |
| Use of proceeds                                                                  |   | All of the Resale Shares will be sold by the Selling Shareholder for its account. We will not receive any proceeds from the sales.​We have received $2,000,000 from the sale of the Convertible Note and $267 from the sale of Issued Shares, before any fees or expenses. These proceeds will be used for general corporate and working capital or other purposes that our Board of Directors deems to be in our best interest.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Nasdaq trading symbol                                                            | ​ | NTCL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
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| Risk factors                                                                     |   | See “Risk Factors” and other information included in this prospectus for discussions of the risks relating to investing in the Class A Ordinary Shares. You should carefully consider these risks before deciding to invest in the Class A Ordinary Shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Transfer Agent                                                                   |   | VStock Transfer, LLC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

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<div align='center'>**RISK FACTORS**</div>

An investment in the Resale Shares carries a significant degree of risk. You should carefully consider the following risks, as well as the other information contained in this prospectus, including our historical financial statements and related notes, before you decide to purchase the offered securities.