NETCLASS TECHNOLOGY INC Announces $2.4 Million Private Placement (PIPE) Financing to Advance AI Applications and Blockchain Initiatives in Singapore

SINGAPORE and HONG KONG, Sept. 15, 2025 (GLOBE NEWSWIRE) -- NETCLASS Technology INC (NASDAQ:NTCL, the "Company" or "NetClass")), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, Singapore and Tokyo, today announced that on August 31, 2025, the Company entered into a securities purchase agreement (the "Agreement") with an institutional investor (the "Investor") relating to a private placement of 1,500,000 Class A ordinary shares at $1.60 per share, for gross proceeds of approximately $2.4 million.

The transaction is expected to close within 60 days of the date of the Agreement (the "Closing Date"), subject to customary conditions. Under the terms of the Agreement, the Investor will have the right to purchase up to an additional 1,500,000 Class A ordinary shares at $1.60 per share over the next three years following the closing date.

The agreement is expected to support NetClass's strategic plan to broaden the AI application scenarios and further advance the application of blockchain technology. The Company has already deployed AI-assisted language learning systems across multiple universities and is developing additional AI-driven tools to enhance its education portfolio. NetClass is also planning to expand its education chain and strengthen the adoption of EDC ...