3 E Network Raises $1. 38 M to Grow AI and Data Center Services

3 E Network Technology Group Limited, a provider of business‑to‑business IT solutions that aims to become a leader in artificial intelligence infrastructure, completed a private financing round. The company sold a convertible promissory note worth $1. 5 million and a warrant that allows the investor to buy up to 469, 000 shares for a total of $1. 38 million in gross proceeds. The note can be turned into the company’s Class A ordinary shares, each having a par value of $0. 0025. The investor also received a warrant that can be exercised at an initial price of $2. 712 per share, with a five‑year expiry on June 23, 2031. If the company defaults, the investor may choose a lower exercise price based on the average trading value of the previous day. In some cases, the warrant can be exercised without cash if a registration statement is not yet available.A second tranche of $500, 000 in the note is planned for a future closing. This will bring additional proceeds of $460, 000 once the company files an effective registration statement for the shares that come from converting the note. The filing must be done within 15 business days of the closing, using Form F‑3 or a suitable alternative. Boustead Securities, LLC served as the placement agent for this offering. The company also signed a registration rights agreement that obligates it to file the necessary documents with the U. S. Securities and Exchange Commission so investors can resell their shares after conversion. 3 E Network’s core business includes operating data centers and developing software. The firm is positioning itself at the intersection of AI and energy, hoping to attract investment in sustainable technology. For more details, visitors can go to the company’s website.