NETCLASS TECHNOLOGY (NTCL): Repaid $2.2M convertible note in full on November 4, 2026
Repaid $2.2M convertible note in full for $949K payoff; 1.65M reserved shares cancelled, removing conversion dilution overhang.
What this filing says
NetClass Technology repaid its convertible promissory note in full for $949,323.78 and the holder agreed the note is terminated and cancelled. The reserved 1,654,436 Class A ordinary shares for conversion have returned to authorized but unissued status, which removes a source of potential dilution for shareholders.
Key figures
- Original note principal
- $2,200,000
- Payoff amount
- $949,323.78
- Shares reserved for conversion, now cancelled
- 1,654,436 Class A ordinary shares
- Converted into shares before repayment
- $1,629,000 into 1,696,379 Class A ordinary shares
- Pre-Delivery Shares repurchased
- 21,390 shares for $267.38
Positive for shareholders
- The convertible note has been fully repaid and terminated, so the holder no longer has conversion rights.
- Reserved shares for the note's conversion are returned to authorized but unissued status, reducing potential dilution.
Negative for shareholders
- The company spent about $949,000 in cash to settle the note, which is an outflow of capital.
- Earlier conversions of $1,629,000 already added 1,696,379 Class A ordinary shares to the share count.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Convertible promissory note:
- A loan that the lender can choose to exchange for company shares instead of being repaid in cash.
- Pre-Delivery Shares:
- Shares the holder agreed to deliver to the company under the purchase agreement, which the company is repurchasing and plans to cancel.
- Payoff Amount:
- The total amount needed to fully settle the note, including principal, interest, fees and other amounts owed.
FAQ
Did NetClass Technology pay off its convertible note?
Yes, on November 4, 2026 the company repaid the note in full by paying the holder $949,323.78.
Will the note's conversion rights still affect existing shareholders?
No, the filing states the holder's right to convert the note into ordinary shares has terminated and the reserved 1,654,436 shares were cancelled.
Historical context for NTCL
Across the 8 sessions after earlier NTCL headlines, the stock closed higher 2 times and lower 6 times, with a median move of 13.6% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | NTCL | SPY |
|---|---|---|---|
| Oct 30, 2026 | NETCLASS TECHNOLOGY INC Receives Outstanding Case Award for Its Multi-Agent AI Language Teaching System at 2026 Digital Lifelong Learning Conference | -25.5% | -1.8% |
| Oct 9, 2026 | NETCLASS TECHNOLOGY INC Expands Business Horizons with Strategic Entry into AI Companion Smart Hardware | -16.4% | +0.6% |
| Jul 1, 2026 | NETCLASS TECHNOLOGY INC Announces 1 for 50 Share Consolidation | -26.5% | -0.1% |
| Jun 11, 2026 | NETCLASS TECHNOLOGY INC Expands AI Multilingual Assessment Market and International Strategic Partnerships | -86.3% | +1.7% |
| Feb 5, 2026 | NETCLASS TECHNOLOGY INC Advances AI Business with Phased Progress | +10.8% | -1.2% |
| Jan 30, 2026 | NETCLASS TECHNOLOGY INC Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency | -4.8% | -0.3% |
Keep researching NTCL
- What is Form 6-K?The SEC form foreign private issuers use to furnish material information they publish at home, such as earnings releases and major announcements.
- Form 8-K explainedWhat a Form 8-K is, when it is due, and what each key item number means, from 1.01 material agreements and 2.02 earnings to 4.02 restatements and 5.02 executive changes.
- NTCL financial statementsRevenue, profit, cash flow and balance sheet from NETCLASS TECHNOLOGY INC's SEC filings.
- Market cap
- 30-day
- Sector
- Technology
- Industry
- Computer Software: Prepackaged Software
- Listed since
- 2024
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