- NetClass Technology Inc secures $2.4 million through private placement of 1.5M Class A shares at $1.60 each
- Investor granted option to purchase an additional 1.5M shares over the next three years
- Funding to accelerate AI education solutions, blockchain adoption, and Singapore HQ expansion
NetClass Technology INC (Nasdaq: NTCL; the 'Company' or 'NetClass'), a Shanghai-based Hong Kong-listed B2B smart education IT solutions company with operations in Shanghai, Hong Kong, Singapore and Tokyo, announced today that on August 31, 2025, the Company entered into a securities purchase agreement (the 'Agreement') with an institutional investor (the 'Investor') for a private placement of 1,500,000 Class A ordinary shares at $1.60 per share, with gross proceeds of approximately $2.4 million.
The closing of the transaction is anticipated within 60 days of the Agreement Date (the 'Closing Date') subject to customary conditions. The Investor will be entitled to buy a maximum of another 1,500,000 Class A ordinary shares at $1.60 per share over the three-year period subsequent to the closing date, pursuant to the terms of the Agreement.
The cooperation will help facilitate NetClass's strategic plan to expand the scenarios of AI applications and further deepen the application of blockchain technology. The Company has previously applied AI-powered language learning systems in various universities and is currently developing other AI-powered instruments to enrich its education offerings.
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NetClass is also looking to further expand its chain of educational businesses and reinforce the adoption of EDC token in Singapore, while also seeking the opportunity to issue new tokens. These moves complement the Company's strategic development to set up a Singaporean subsidiary and move its world headquarters to Singapore. Policies in Singapore supporting the use of blockchain and AI have established it as a prime location for international expansion.
"This funding reflects the faith of our investor in our vision and strategy and confirms our measures to revolutionize education using technology. It not only enhances our balance sheet but also allows us to have the capital agility required to expedite development of our AI technologies, education chain, the EDC token, and pursue new token-based opportunities", said Dr. Jianbiao Dai, Chairman and Chief Executive Officer of NetClass.
With Singapore becoming our international headquarters, we are well-positioned to tap into Singapore's blockchain and AI-friendly policies, connect with world-class talent and capital, and realize sustainable growth for our company, partners, and shareholders.
