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3 E Network Technology Completes $1M Private Placement
3 E Network Technology entered into a subscription agreement with 3 E Network Technology PTE. LTD., a company incorporated under the laws of Singapore and controlled by Tingjun Yang, the company's CEO and a director, for a private placement of an aggregate of 701,272 Class A ordinary shares, par value $0.0025 per share, of the company, at a purchase price of $1.42598 per share, representing aggregate gross cash proceeds to the company of $1M. The closing of the private placement will take place on such date as the parties may mutually agree in writing, subject to customary closing conditions. The Class A shares to be issued and sold under the subscription agreement will not be registered under the Securities Act of 1933, as amended, in reliance on the exemption from registration provided by Section 4 of the Securities Act and/or Rule 506 of Regulation D promulgated thereunder. The company relied on such exemption from registration based in part on representations made by the Investor. The Class A Shares may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Because the investor is controlled by Yang, the company's CEO and a director, the investor's subscription in the private placement constitutes a related-party transaction under Nasdaq Listing Rule 5630. The audit committee of the board of directors, consisting entirely of independent directors, reviewed and approved the private placement and recommended that the board of directors approve the private placement and the transactions contemplated by the subscription agreement. The board of directors subsequently approved the private placement and the transactions contemplated by the subscription agreement. The foregoing description of the subscription agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the subscription agreement. No placement agent or underwriter was engaged in connection with the private placement, and no placement agent fees, finder's fees or commissions are payable.
3E Network Completes Initial Architecture Specification for Next-Gen Storage Controller
3 E Network announced that its next-generation customized storage controller, designed to address the concurrent data throughput demands of AI large models, has successfully completed the initial system-level architecture specification. Concurrently, the team has preliminarily validated its core data flow algorithmic through software simulation. The R&D team completed a Version 1.0 system-level specification for the storage controller, setting out the preliminary engineering requirements and functional parameters for the detailed circuit design phase. The specification sets out a proposed framework for supporting high-speed bus standards, including customized interface logic designed to support PCIe and CXL standards, and a preliminary routing strategy intended to reduce latency for the Memory Management Unit. With the initial shaping of the system-level architectural design, the chip R&D team has entered a more detailed micro-architecture design phase and has begun the highly complex register transfer level front-end logic coding.
Company Offers Sale of 15.4M Class A Ordinary Shares
This filing relates to the offer and sale from time to time by the selling stockholders of up to 15.4M Class A ordinary shares. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
3 E Network Technology Develops Enterprise-Grade AI SaaS Platform
3 E Network Technology announced that it is developing an enterprise-grade artificial intelligence software-as-a-service platform designed for smart companion and eldercare robots. This development follows the company's recent architectural finalization of its custom edge system-on-chip, supporting its transition toward an integrated edge-cloud technology platform. The new software platform includes modules for cognitive companionship, predictive health monitoring, and fleet management. "While our previously announced edge AI SoC provides a powerful 'edge-based perception foundation,' the AI SaaS platform complements it with a cloud platform capable of supporting more advanced cognitive functions," said Tingjun Yang, CEO of 3 E Network. "The synergy of these two elements is intended to create a comprehensive technology platform built around Edge-Cloud Synergy."
3 E Network Completes Chip Design for Aladdin's Elder Care Robots
3 E Network announced that it has completed key architectural design work and edge computing deployment planning for its custom System-on-Chip, designed for Aladdin Alaris AI's next-generation eldercare and healthcare robots. The development, part of a strategic framework agreement with the advanced robotics developer, is designed to support real-time multi-sensor data fusion, local privacy sandbox isolation, and offline processing at the edge. "In the era of Embodied AI, the core technological barrier lies in the capability of real-time physical interaction at the edge," said Tingjun Yang, CEO of 3 E Network. "The Edge AI SoC we are custom-building for Aladdin's eldercare robots aims to provide robust edge computing and responsiveness for the robots. By empowering robots with outstanding local multi-modal perception and a high degree of data security, we are translating silicon-level compute power into the foundation of smart caregiving that tangibly benefits the aging population. This marks an important step in the development and potential commercialization of 3 E Network's semiconductor business."
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