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

Key Highlights

• Funding Structure
• Convertible promissory note: $1.5 million
• Warrant (up to 469,000 shares): $1.38 million

• Total gross proceeds: $2.88 million

• Convertible Note Details
• Can be converted into Class A ordinary shares (par value $0.0025 each).

• Second tranche of $500,000 planned for future closing.

• Warrant Features
• Exercise price: $2.712 per share
• Expiry: June 23, 2031 (5 years)
• Default clause allows lower exercise price based on prior day’s average trading value.
• Cashless exercise possible if registration statement pending.

• Regulatory & Filing Requirements
• Second tranche proceeds: $460,000 after effective registration statement filed.
• Filing deadline: within 15 business days of closing (Form F‑3 or alternative).

• Registration rights agreement obliges company to file documents for resale eligibility.

• Placement Agent

• Boustead Securities, LLC

• Business Focus
• Operates data centers and develops software.
• Positioned at the intersection of AI and energy, targeting sustainable technology investment.

For more details, visit the company’s website.