Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 3

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 3
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may be sold at fixed prices, at market prices prevailing at the time of sale, at prices related to prevailing market price or at negotiated
prices, provided, that the Class A Ordinary Shares shall not be converted below a floor price equal to US$0.63 (the “Floor Price”),
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
Selling Shareholder the resulting economic difference in cash, calculated as set forth in a letter agreement entered into between the
Company and the Selling Shareholder on October 14, 2025 (the “L1 Letter Agreement”).

Our Class A Ordinary Shares are listed on the Nasdaq
Capital Market (“Nasdaq”) under the symbol “MASK.” There is no established trading market for the Convertible
Notes and Warrants and we do not intend to list the Convertible Notes or Warrants on any exchange or other trading system.

We are a holding company incorporated in the British
Virgin Islands (“BVI”). As a holding company, historically, our operations were conducted by our indirect wholly-owned subsidiaries
based in the People’s Republic of China (“PRC” or “China”), Guangzhou 3e Network Technology Company Limited
(the “Guangzhou Sanyi Network”) and Guangzhou 3E Network Technology Company Limited (the “Guangzhou 3E Network”),
which we maintained 100% ownership via our wholly-owned subsidiary based in Hong Kong, 3e Network Technology Company Limited (the
“HK 3e Network”). On March 21, 2025, HK 3e Network sold 60% equity interest in Guangzhou Sanyi Network and our entire
100% equity interest in Guangzhou 3E Network. As a result, we now retain 40% equity ownership in Guangzhou Sanyi network. Going forward,
all of our business operations will be conducted through HK 3e Network, which will serve as our sole operating entity under this offering.
This is an offering of the Class A Ordinary Shares of 3e Network, the holding company incorporated in BVI, instead of shares of our historical
operating