Cheetah Net closes $8.19M follow-on offering of 13.21M shares at $0.62/sh

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Priced 13,210,000 shares of Class A common stock at $0.62 per share for gross proceeds of $8.19 million.
Offering closed on May 15, 2024; AC Sunshine Securities acted as exclusive placement agent.
Net proceeds to fund working capital and develop warehousing/logistics services.
Placement agent fee was 3.5% of gross proceeds; shares offered under effective S-1 registration.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CHEETAH NET SUPPLY CHAIN SERVICE INC. entered into Placement Agency Agreement with AC Sunshine Securities LLC valued at approximately $8.19 million (effective 2024-05-14).

Action: entry
Agreement: underwriting
Counterparty: AC Sunshine Securities LLC
Value: approximately $8.19 million
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, Cheetah Net Supply Chain Service Inc. (the “Company”) entered into a placement agency agreement (the “Placement Agency Agreement”) with AC Sunshine Securities LLC, the Company’s exclusive placement agent (the “Placement Agent”), on a best efforts basis, relating to the Company’s public offering (the “Offering”) of 13,210,000 shares of Class A common stock

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CHEETAH NET SUPPLY CHAIN SERVICE INC. entered into Purchase Agreement with purchasers identified therein (the “Purchasers”) (effective 2024-05-14).

Action: entry
Agreement: equity purchase
Counterparty: purchasers identified therein (the “Purchasers”)
Effective: 2024-05-14

Exact text from the filing

On the same day, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with purchasers identified therein (the “Purchasers”).

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

CHEETAH NET SUPPLY CHAIN SERVICE INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-061898

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