Cheetah Net shareholders approve reverse stock split (1:10 to 1:30) and amended stock plan

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Reverse stock split authorized at ratio between 1-for-10 and 1-for-30, as determined by board of directors.
Amended & Restated 2024 Stock Incentive Plan approved, removing automatic annual share increase; plan reserves 2.5M Class A and 500K Class B shares.
Over 129 million Class A and B shares voted for reverse split; all Class B shares voted in favor (123.75M).
Special meeting held September 30, 2024; voting results reported on October 4, 2024.
Third proposal to adjourn meeting if needed also passed with approx. 129.7M votes for.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CHEETAH NET SUPPLY CHAIN SERVICE INC.: The company amended and restated its articles of incorporation to effect a reverse stock split of common stock at a ratio within one-for-ten to one-for-thirty.

Change: charter amendment

Exact text from the filing

the Third Amended and Restated Articles of Incorporation of the Company, as in effect immediately prior to the Special Meeting, were amended and restated to be in the form of the Fourth Amended and Restated Articles of Incorporation attached as Exhibit 3.1 hereto.

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13 governance changes filed in the last 30 days. Browse all governance changes →

CHEETAH NET SUPPLY CHAIN SERVICE INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-106259

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