NetClass repays convertible promissory note and cancels share reserve
On November 4, 2026, NetClass Technology Inc repaid in full its convertible promissory note by paying the Holder $949,323.78, covering all outstanding principal, accrued and unpaid interest, fees, and other amounts owed. The Holder acknowledged that the Note was terminated and cancelled and that all conversion rights had ended; 1,654,436 reserved Class A ordinary shares returned to authorized but unissued status. NetClass also repurchased 21,390 Pre-Delivery Shares for an aggregate $267.38 and said it planned to...
Key takeaways
Payoff: The $949,323.78 payment satisfied all outstanding principal, accrued and unpaid interest, fees, and other amounts owed under the Note.
Cancellation: The Note was terminated and cancelled, ending the Holder's rights to convert it into ordinary shares.
Share reserve: The reservation of 1,654,436 Class A ordinary shares for conversion was cancelled.
Pre-Delivery Shares: The company repurchased 21,390 shares for an aggregate purchase price of $267.38 and plans to cancel them.
Prior conversion: The Holder converted $1,629,000 of the Note into 1,696,379 Class A ordinary shares.
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Primary source
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