Cheetah Net Enters Material Definitive Agreement

Ticker: CTNT · Form: 8-K · Filed: May 15, 2024 · CIK: 1951667

Sentiment: neutral

Topics: material-agreement, 8-k

TL;DR

Cheetah Net signed a big deal, filing an 8-K. Details to come.

AI Summary

Cheetah Net Supply Chain Service Inc. announced on May 14, 2024, that it entered into a material definitive agreement. The company, incorporated in North Carolina, filed a Form 8-K to report this significant event. Further details regarding the agreement are expected to be disclosed.

Why It Matters

This filing indicates a significant business development for Cheetah Net Supply Chain Service Inc., potentially impacting its operations and future financial performance.

Risk Assessment

Risk Level: medium — The filing of a material definitive agreement suggests a significant event, but the lack of specific details about the agreement introduces uncertainty.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by Cheetah Net Supply Chain Service Inc.?

The filing does not specify the nature of the material definitive agreement, only that one has been entered into as of May 14, 2024.

When was the material definitive agreement entered into?

The material definitive agreement was entered into on May 14, 2024, which is the date of the earliest event reported.

What is the principal executive office address for Cheetah Net Supply Chain Service Inc.?

The principal executive office address is 6201 Fairview Road, Suite 225, Charlotte, North Carolina 28210.

In which state was Cheetah Net Supply Chain Service Inc. incorporated?

Cheetah Net Supply Chain Service Inc. was incorporated in North Carolina.

What is the telephone number for Cheetah Net Supply Chain Service Inc.?

The telephone number for Cheetah Net Supply Chain Service Inc. is (704) 826-7280.

Filing Stats: 936 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-05-15 16:05:27

Key Financial Figures

Filing Documents

01

Item 1.01 Entry Into a Material Definitive Agreement 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, par value $0.0001 per share ("Class A Common Stock") for a price of $0.62 per share, less certain placement agent fees. On the same day, the Company entered into a securities purchase agreement (the "Purchase Agreement") with purchasers identified therein (the "Purchasers"). The Placement Agency Agreement contains customary conditions to closing, representations and warranties of the Company, and termination rights of the parties, as well as certain indemnification obligations of the Company and ongoing covenants for the Company. On May 15, 2024, the Company closed the Offering pursuant to the prospectus included in its registration statement on Form S-1, as amended (File No. 333-276300), which was initially filed with the U.S. Securities and Exchange Commission (the "SEC") on December 28, 2023, and declared effective by the SEC on April 26, 2024, and a registration statement on Form S-1 (File No. 333-279388) filed on May 13, 2024, pursuant to Rule 462(b) of the Securities Act of 1933, as amended (the "Securities Act"). The final prospectus was filed on May 15, 2024. The Offering resulted in gross proceeds to the Company of approximately $8.19 million, before deducing placement agent fees and other offering expenses and fees. The Company paid the Placement Agent a cash fee equal to 3.5% of the gross proceeds raised in the Offering. A copy of the Placement Agency Agreement and the form of the Purchase Agreement are attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated by reference herein. The foregoing summaries of

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On May 14, 2024, the Company issued a press release regarding the pricing of the Offering. A copy of the press release is attached as Exhibit 99.1 hereto. On May 15, 2024, the Company issued a press release regarding the closing of the Offering. A copy of the press release is attached as Exhibit 99.2 hereto. The information in this

01, including Exhibit 99.1 and Exhibit 99.2 attached hereto, is being furnished and shall not be deemed "filed"

Item 7.01, including Exhibit 99.1 and Exhibit 99.2 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any of the Company's filings under the Securities Act, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this report in such filing.

01

Item 9.01. Exhibits. Exhibit No. Description 10.1 Placement Agency Agreement dated May 14, 2024 by and between the Company and the Placement Agent 10.2 Form of the Securities Purchase Agreement dated May 14, 2024 by and between the Company and the Purchaser s 99.1 Press Release dated May 14, 2024 on Pricing of the Offering 99.2 Press Release dated May 15, 2024 on Closing of the Offering 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 15, 2024 Cheetah Net Supply Chain Service Inc. By: /s/ Huan Liu Huan Liu Chief Executive Officer, Director, and Chairman of the Board of Directors

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