Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 113

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 113
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, we paid $20,000 to the Selling Shareholder for the Selling Shareholder’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the Convertible Note (the “Transaction Expense Amount”). The OID and the Transaction Expense Amount are included in the initial principal balance of the Convertible Note. In connection with the transaction, we paid the Placement Agent a cash fee equal to 8% of the gross proceed, a non-accountable expense equal to 1% of the gross proceed, and accountable expense in the amount of $30,000, which totaled $228,000. Pursuant to the Securities Purchase Agreements, we may be required to make additional cash payments to the Selling Shareholder. These additional cash payments could total $1,041,000, in which case we would have net proceeds from the sale of the Convertible Note equal to $959,000. The following table sets out the payments we have made and may have to make in connection with the sale of the Convertible Note.

| ​                                                      | ​ | ​ |         ​ |
|:-------------------------------------------------------|:--|:--|----------:|
| Cash fee to the Placement Agent (8%)                   |   | $ |   176,000 |
| Non-accountable expense to the Placement Agent (1%)    | ​ | $ |    22,000 |
| Accountable expense to the Placement Agent             | ​ |   |    30,000 |
| Interest Payments to the Selling Shareholder (1)       | ​ | $ |   198,000 |
| Redemption Premium to the Selling Shareholder (2)      | ​ | $ |   440,000 |
| Trigger Effect Payments to the Selling Shareholder (3) | ​ | $ |   175,000 |
| Total                                                  | ​ | $ | 1,041,000 |

| (1) | The Convertible Note matures on the one-year anniversary date of the issuance of such Convertible Note and bears interest at a rate of 9% per annum. In case of an event of default under the Convertible Note, the interest rate increases to 18% per annum. This table has assumed that there is no event of default. |

| (2) | We are required to pay a prepayment premium equal to 20% of the principal amount being redeemed if we prepay the Convertible Note prior to maturity. |

| (3) | Upon the occurrence