NetClass Technology Inc Completes $6 Million Private Placement and Standstill Agreement

NetClass Technology Inc filed a Form 6-K reporting two significant corporate actions in March 2026. First, the company entered into a standstill agreement with a previous investor, making a $268,518.81 payment to prevent conversion of a convertible promissory note and sale of existing shares. Second, the company completed a $6 million private placement offering, selling 27,027,015 Class A ordinary shares at $0.222 per share. The offering was conducted through Revere Securities as placement agent, with the company agreeing to file a registration statement for resale of the shares within 30 days. Net proceeds will be used to fund the standstill payment and for general working capital. The company also granted the placement agent a right of first refusal for future financing transactions for three months.