Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 2

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 2
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 Ordinary Shares (the “Issued Shares” and together with the Conversion Shares, the “Resale Shares”) issued to the Selling Shareholder pursuant to the Securities Purchase Agreement. The Convertible Note may be converted into up to 4,369,288 Class A Ordinary Shares registered by the registration statement of which this prospectus forms a part, and if any portion of the Convertible Note are converted into Class A Ordinary Shares that are not being registered by the registration statement of which this prospectus forms a part, such Class A Ordinary Shares will be restricted securities and may not be resold unless registered under the Securities Act of 1933, as amended, or such resale is exempt from such registration. We are registering the Resale Shares on behalf of the Selling Shareholder, to be offered and sold by it from time to time. We are not selling any securities under this prospectus, and will not receive any proceeds from the sale of the Resale Shares by the Selling Shareholder pursuant to this prospectus. We are registering the Resale Shares pursuant to the Selling Shareholder’s registration rights under the Securities Purchase Agreement. Our registration of the Resale Shares does not mean that the Selling Shareholder will sell any of the securities offered hereby. The Selling Shareholder may offer and sell the Resale Shares in a number of different ways and at varying prices. We provide more information about how the Resale Shares may be sold in the section entitled “Plan of Distribution.” Our issued and outstanding share capital is a dual class structure consisting of Class A Ordinary Shares and Class B ordinary shares of a par value of US$0.00025 each (the “Class B Ordinary Shares”). Holders of Class A Ordinary Shares and Class B Ordinary Shares shall at all times vote together as one class on all matters submitted to a vote by the shareholders at any general meeting of the Company. Each Class A Ordinary Share shall entitle the holder thereof to one (1) vote on all matters subject to vote at general meetings of our company and each Class B Ordinary Share shall entitle the holder thereof to fifteen (15) votes on all matters subject to vote at general meetings of our company. Also, each Class B Ordinary Share is convertible into one (1) Class A Ordinary Share at any time at the option of the holder thereof but Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Our Class A Ordinary Shares are listed on the Nasdaq Capital Market under the symbol “NTCL”. On September 24, 2025, the last