Core Viewpoint - NETCLASS Technology INC has entered into a securities purchase agreement for a private placement of 1,500,000 Class A ordinary shares at $1.60 per share, raising approximately $2.4 million, which will support its strategic initiatives in AI and blockchain technology [1][2][3][4]. Group 1: Financial Details - The private placement involves the issuance of 1,500,000 Class A ordinary shares at a price of $1.60 per share, resulting in gross proceeds of about $2.4 million [1][2]. - The investor has the option to purchase an additional 1,500,000 Class A ordinary shares at the same price over the next three years following the closing date [2]. Group 2: Strategic Initiatives - The financing is aimed at broadening AI application scenarios and advancing blockchain technology within the company's offerings [3]. - NETCLASS has already implemented AI-assisted language learning systems in multiple universities and is developing further AI-driven tools to enhance its education portfolio [3]. - The company plans to expand its education chain and promote the adoption of the EDC token in Singapore, while also exploring the potential issuance of new tokens [3]. Group 3: Corporate Positioning - The agreement reflects investor confidence in the company's strategy and vision, enhancing its balance sheet and providing capital flexibility for technology development [4]. - With Singapore as its global headquarters, NETCLASS aims to leverage supportive policies for blockchain and AI, access top talent and capital, and drive sustainable growth [4]. Group 4: Company Overview - NETCLASS Technology INC specializes in B2B smart education IT solutions, offering services such as SaaS subscription services and application software development [5]. - The company's solutions cover various areas including teaching management, online education, examinations, epidemic prevention, data storage, and blockchain systems [5].