Cheetah Net prices 13.2M shares at 62c in follow-on offering

Cheetah Net Supply Chain Service announced the pricing of its follow-on offering of 13,210,000 shares of Class A common stock. Each share of Class A common stock is being sold at an offering price of $0.62, for gross proceeds of $8,190,200, before deducting placement agent fees and other offering fees and expenses. All shares of Class A common stock are being offered by the Company. Cheetah Net intends to use the net proceeds received from the offering to fund working capital and to develop its warehousing and logistics services. The offering is expected to close on or about May 15, 2024, subject to satisfaction of customary closing conditions. AC Sunshine Securities LLC is acting as the sole placement agent in connection with the offering.