Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 40

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 40
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 important factor considered by the Company
in reaching a decision as to the accounting, auditing or financial reporting issue; or

(ii)any
matter that was either the subject of a disagreement as defined in Item 16F (a)(1)(iv) of Form 20-F or a reportable event
as described in Item 16F (a)(1)(v) of Form 20-F.

Adoption of Share Incentive Plan

On March 27, 2025, the Company adopted a
2025 equity incentive plan (the “2025 Equity Incentive Plan”) to attract and retain directors, consultants or key employees
to exert their best efforts on behalf of the Company and link their personal interests to those of the Company’s shareholders. The
2025 Equity Incentive Plan has a maximum number of 1,583,000 Class A Ordinary Shares available for issuance pursuant to all awards
under the 2025 Equity Incentive Plan. On April 29, 2025, the Company issued 1,350,000 Class A Ordinary Shares to certain employees
and consultants of the Company as compensation for their continued service in the Company.

Private Placement August 2025

On August 1, 2025, the Company entered into
a securities purchase agreement with an accredited investor relating to the issuance and sale of (a) a convertible promissory 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. The offering closed on August 4, 2025 and the gross proceeds
from the Offering was $2,000,000, prior to deducting transaction fees and estimated expenses.

Private Placement September 2025

On August 31, 2025, the Company entered into a securities purchase agreement with an investor relating to the issuance and sale of 1,500,000 Class AOrdinary Shares, at $1.60 per share for a total purchase price of $2,400,000. The Transaction closed on November 13,
2025 and the shares were issued at the closing.

Annual General Meeting

On December 23, 2025, the Company held an
annual general meeting at which the shareholders approved, among others, (a) the reappointment of Jianbiao Dai, Lina Chen, X