Cheetah Net Supply Chain Service Inc. Files S-1/A Amendment

TL;DR

<b>Cheetah Net Supply Chain Service Inc. has filed an S-1/A amendment, indicating progress in its public offering registration.</b>

AI Summary

CHEETAH NET SUPPLY CHAIN SERVICE INC. (CTNT) filed a Amended IPO Registration (S-1/A) with the SEC on March 28, 2024. Cheetah Net Supply Chain Service Inc. filed an S-1/A amendment on March 28, 2024. The company is incorporated in North Carolina and its fiscal year ends on December 31. The filing is related to a registration statement under the Securities Act of 1933, with registration number 333-276300. The principal executive offices are located at 6201 Fairview Road, Suite 225, Charlotte, North Carolina. The company's SIC code is 5010 (Wholesale - Motor Vehicles & Motor Vehicle Parts & Supplies).

Why It Matters

For investors and stakeholders tracking CHEETAH NET SUPPLY CHAIN SERVICE INC., this filing contains several important signals. This amendment signifies a step forward in the company's journey towards becoming a publicly traded entity, potentially providing access to capital for growth and expansion. The filing details the company's structure, location, and regulatory filings, offering transparency to potential investors about its operational and legal framework.

Risk Assessment

Risk Level: low — CHEETAH NET SUPPLY CHAIN SERVICE INC. shows low risk based on this filing. The filing is an S-1/A amendment, which is a procedural step in the IPO process and does not contain new financial performance data or significant business updates that would alter the risk profile.

Analyst Insight

Monitor future filings for updated financial information and details regarding the proposed public offering.

Key Numbers

• 2024-03-28 — Filing Date (Date of S-1/A filing)
• 333-276300 — SEC File Number (Registration number for the offering)
• 5010 — SIC Code (Wholesale - Motor Vehicles & Motor Vehicle Parts & Supplies)
• 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• CHEETAH NET SUPPLY CHAIN SERVICE INC. (company) — Filer name
• North Carolina (jurisdiction) — State of incorporation
• 333-276300 (registration_number) — SEC file number
• 6201 Fairview Road, Suite 225 Charlotte, North Carolina, 28210 (address) — Registrant's principal executive offices
• Huan Liu (person) — Chief Executive Officer
• Ying Li (person) — Agent for service
• Guillaume de Sampigny (person) — Agent for service
• Hunter Taubman Fischer & Li LLC (company) — Legal counsel

FAQ

Industry Context

Cheetah Net Supply Chain Service Inc. operates within the wholesale sector, specifically focusing on motor vehicles and related parts, as indicated by its SIC code.

Regulatory Implications

The filing is made under the Securities Act of 1933, which governs the registration of securities offerings in the United States.

What Investors Should Do

1. Review the full S-1/A filing for detailed information on the proposed securities offering.
2. Track future SEC filings from Cheetah Net Supply Chain Service Inc. for updates on the registration process and potential IPO.
3. Research the company's business model and market position within the motor vehicle supply chain sector.

Key Dates

• 2024-03-28: S-1/A Filing — Amendment filed for the registration statement.

Year-Over-Year Comparison

This is an amendment (S-1/A) to a previous filing, indicating ongoing procedural steps rather than a new initial filing.

Key Financial Figures

• $0.0001 — ares of Class A common stock, par value $0.0001 per share, at an assumed offering price
• $2.11 — share, at an assumed offering price of $2.11 per share, which is equal to the closin
• $100,000 — ees and expenses in the amount of up to $100,000 in the event of a closing of the offeri
• $50,000 — of a closing of the offering and up to $50,000 in the event that there is no closing.
• $ — llars,&rdquo; &ldquo;USD,&rdquo; &ldquo;$,&rdquo; and &ldquo;dollars&rdquo; are t
• $38.3 million — 2023 and 2022, we had total revenue of $38.3 million and $55.2 million, respectively, repres
• $55.2 m — had total revenue of $38.3 million and $55.2 million, respectively, representing a dec
• $0.1 million — m 2022 to 2023. We earned net income of $0.1 million for the year ended December 31, 2023, c
• $0.8 million — ber 31, 2023, compared to net income of $0.8 million for the year ended December 31, 2022. O
• $1.3 million — ecember 31, 2022 included approximately $1.3 million of subsidy income from a business recov
• $78,125 — ck, with a termination consideration of $78,125. This termination became effective on M
• $300,000 — holder of Edward, for a cash payment of $300,000 and 1,272,329 shares of our Class A com
• $75,000 — d must maintain a bond in the amount of $75,000. On August 3, 2023, we completed our
• $4.00 — ommon stock at a price to the public of $4.00 per share. Our Class A common stock beg
• $3.7 million — 23. Total net proceeds of approximately $3.7 million were raised from the IPO after deductin

Filing Documents

• tm249934d1_s1a.htm (S-1/A) — 679KB
• tm249934d1_ex1-1.htm (EX-1.1) — 94KB
• tm249934d1_ex5-1.htm (EX-5.1) — 14KB
• tm249934d1_ex10-21.htm (EX-10.21) — 212KB
• tm249934d1_ex23-1.htm (EX-23.1) — 4KB
• tm249934d1_ex23-2.htm (EX-23.2) — 3KB
• tm249934d1_ex-filingfees.htm (EX-FILING FEES) — 25KB
• tm2333713d1_s1sp1img001.gif (GRAPHIC) — 4KB
• tm249934d1_s1aimg001.jpg (GRAPHIC) — 6KB
• tm2333713d1_s1sp6img001.jpg (GRAPHIC) — 16KB
• tm249934d1_ex5-1img001.jpg (GRAPHIC) — 4KB
• tm249934d1_ex23-1img001.jpg (GRAPHIC) — 4KB
• tm249934d1_ex23-2img001.jpg (GRAPHIC) — 5KB
• 0001104659-24-040583.txt (&nbsp;) — 1081KB

RISK FACTORS

RISK FACTORS 9 DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS 29

USE OF PROCEEDS

USE OF PROCEEDS 30 DIVIDEND POLICY 31 CAPITALIZATION 32

DILUTION

DILUTION 33 MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 34

BUSINESS

BUSINESS 35 MANAGEMENT 36 EXECUTIVE AND DIRECTOR COMPENSATION 41 PRINCIPAL STOCKHOLDERS 43 RELATED PARTY TRANSACTIONS 47 DESCRIPTION OF SHARE CAPITAL 47 PLAN OF DISTRIBUTION 50 LEGAL MATTERS 52 EXPERTS 52 CHANGE IN REGISTRANT&rsquo;S CERTIFYING ACCOUNTANT 52 WHERE YOU CAN FIND ADDITIONAL INFORMATION 53 INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 54 ABOUT THIS PROSPECTUS We and the Placement Agent have not authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by us or on our behalf or to which we have referred you. We take no responsibility for and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted or where the person making the offer or sale is not qualified to do so or to any person to whom it is not permitted to make such offer or sale. The information contained in this prospectus is current only as of the date on the front cover of the prospectus. Our business, financial condition, results of operations, and prospects may have changed since that date. Conventions that Apply to this Prospectus Unless otherwise indicated or the context requires otherwise, references in this prospectus to: &ldquo;2023 Annual Report&rdquo; are to our annual report on Form 10-K (File No. 001-41761), filed with the SEC (as defined below) on March 18, 2024; &ldquo;4S Stores&rdquo; are to automobile dealerships authorized by an automobile manufacturer to engage in the four businesses relating to sales, spare parts, service, and survey; &ldquo;Cheetah Net&rdquo; are to Cheetah Net Supply Chain Service Inc., a corporation t

View Full Filing

View this S-1/A filing on SEC EDGAR