NETCLASS TECHNOLOGY INC Announces Full Exercise of Over-Allotment Option

SHANGHAI and HONG KONG, Jan. 3, 2025 (GLOBE NEWSWIRE) — NETCLASS TECHNOLOGY INC (the “Firm” or “NETCLASS”), a number one B2B sensible training IT options supplier with places of work in Shanghai, Hong Kong and Singapore , at the moment introduced that the underwriters of its beforehand introduced preliminary public providing (the “Providing”) have exercised their over-allotment choice (the “Over-allotment Possibility”) in full to buy a further 270,000 shares of Class A standard inventory on the public providing value of $5.00 per share, leading to extra gross proceeds of $1.35 million. Upon giving impact to the complete train of the Over-allotment Possibility, the whole variety of shares of widespread inventory bought by the Firm within the Providing elevated to 2,070,000 shares of Class A standard inventory and gross proceeds elevated to $10.35 million, earlier than deducting underwriting reductions and different associated reductions. expenditure. The cut-off date of the over-allotment choice was January 3, 2025. The Firm’s shares started buying and selling on the Nasdaq Capital Market on December 13, 2024 underneath the image “NTCL”.

The Provide was executed on the idea of a agency dedication. Newbridge Securities Company and Revere Securities, LLC (the “Underwriters”) acted as Underwriters for the Providing. Ortoli Rosenstadt LLP acted as U.S. counsel to the Firm, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to Newbridge Securities Company, which acted because the Underwriters’ consultant in reference to the Providing.

A registration assertion on Type F-1 (File No. 333-278224) was filed with the Securities and Trade Fee (“SEC”) and was declared efficient by the SEC on December 12, 2024. A ultimate prospectus referring to the providing was filed with the SEC is accessible on the SEC’s web site at http://www.sec.gov. Digital copies of the ultimate prospectus referring to this providing could also be obtained from Newbridge Securities Company, Consideration: Fairness Syndicate Division, 1200 North Federal Freeway, Suite 400, Boca Raton, FL 33432, by e mail at syndicate@newbridgesecurities.com or by cellphone at (877) 447-9625.

Earlier than investing, it’s best to learn the prospectus and different paperwork the Firm has filed or will file with the SEC for extra details about the Firm and the Providing. This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal previous to the registration. or qualification underneath the securities legal guidelines of any such state or jurisdiction.

About NETCLASS TECHNOLOGY INC

NETCLASS TECHNOLOGY INC is a number one B2B sensible training specialist with places of work in Shanghai, Hong Kong and Singapore, offering revolutionary IT options to colleges, coaching establishments, firms, authorities companies and different organizations. Our providers embrace SaaS subscription providers and software software program improvement, with options protecting training and campus administration, on-line training, exams, epidemic prevention, information storage, EDC (Schooling Credit) blockchain methods and instructor analysis providers. Our mission is to supply dependable, high-quality merchandise that drive sustainable development for our clients. For extra info, please go to the corporate’s web site: https://ir.netclasstech.com

Ahead-Wanting Statements

Sure statements on this announcement are forward-looking statements, together with, however not restricted to, the Firm’s proposed Providing. These forward-looking statements contain identified and unknown dangers and uncertainties and are based mostly on the Firm’s present expectations and projections about future occasions that the Firm believes could have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants, together with the expectation that the providing can be accomplished efficiently. Buyers can establish these forward-looking statements by phrases or phrases resembling “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “tasks,” “intends,” “plans,” will’, ‘would’, ‘ought to’, ‘may’, ‘could’ or different comparable expressions. The Firm undertakes no obligation to publicly replace or revise any forward-looking statements to replicate subsequent occasions or circumstances or modifications in expectations, besides as required by regulation. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, it can provide no assurance that such expectations will show to be appropriate. The Firm cautions buyers that precise outcomes could differ materially from these anticipated and encourages buyers to evaluation different components that would have an effect on future ends in the Firm’s registration assertion and different filings with the U.S. Securities and Trade Fee.

For questions from buyers and media, please contact:

NETCLASS TECHNOLOGY INC
Investor Relations
E-mail: ir@netclasstech.com

Jackson Lin
Lambert from LLYC
Cellphone: +1 (646) 717-4593
E-mail: jian.lin@llyc.global

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