Cheetah Net closes $5M IPO; shares trade on Nasdaq under CTNT

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Gross proceeds of $5.0M from sale of 1.25M shares at $4.00 per share.
Underwriters granted 45-day option to purchase up to an additional 187,500 shares.
Warrants issued to Maxim Group LLC for 62,500 shares at $5.00, exercisable Jan 27, 2024 to July 31, 2026.
Company supplies parallel-import vehicles from U.S. to PRC market.
IPO closed August 3; shares began trading on Nasdaq Capital Market August 1.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CHEETAH NET SUPPLY CHAIN SERVICE INC. entered into Underwriting Agreement with Maxim Group LLC valued at 1,250,000 shares of Class A common stock at $4.00 per share, plus 187,500 over-allotment option (effective 2023-07-31).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: 1,250,000 shares of Class A common stock at $4.00 per share, plus 187,500 over-allotment option
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, Cheetah Net Supply Chain Service Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Maxim Group LLC, as representative of the several underwriters listed on Schedule I to the Underwriting Agreement (the “Representative”), relating to the Company’s initial public offering (the “IPO”) of 1,250,000 shares of Class A common stock, par value $0.0001 per share (“Class A Common Stock”) for a price of $4.00 per share, less certain underwriting discounts.

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

CHEETAH NET SUPPLY CHAIN SERVICE INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-087259

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