Cheetah Net Supply Chain Service Inc. Announces Pricing of $1.49 Million Follow-on Public Offering
Summary
CHARLOTTE, N.C., July 25, 2024 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (Cheetah Net or the Company) (NASDAQ: CTNT), a provider of warehousing and logistics services, historically in connection with the sale of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, and more recently for the transportation of other goods between the U.S. and the PRC, today announced that it has entered into a securities purchase agreement with certain investors for a follow-on offering of 6,479,663 shares of Class A common stock, at a price of $0.23 per share, for gross proceeds of approximately $1.49 million, before deducting offering related fees and expenses.Cheetah Net intends to use the net proceeds received from the offering for working capital and general corporate purposes. Electronic copies of the prospectus relating to this offering, when available, may be obtained from FT Global Capital, Inc., 1688 Meridian Avenue, Ste. It purchased automobiles, primarily luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, from the U.S. market and resold them to its customers, including both U.S. and PRC parallel-import car dealers. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.