Cheetah Net Supply Chain Files S-1 for Public Offering

TL;DR

Cheetah Net Supply Chain is filing an S-1, looks like they're going public soon.

AI Summary

Cheetah Net Supply Chain Service Inc. filed an S-1 registration statement on July 10, 2024, to offer securities under the Securities Act of 1933. The company, incorporated in North Carolina with its principal executive offices in Charlotte, operates in the wholesale of motor vehicles and parts. The filing details their business address and contact information, including CEO Huan Liu.

Why It Matters

This S-1 filing indicates Cheetah Net Supply Chain Service Inc. is preparing to go public, which could provide new capital for expansion and change its ownership structure.

Risk Assessment

Risk Level: medium — As an S-1 filing, it represents a company seeking to become publicly traded, which inherently carries risks associated with market volatility and regulatory scrutiny.

Key Numbers

• 5010 — SIC Code (Wholesale - Motor Vehicles & Motor Vehicle Parts & Supplies)
• 813509120 — IRS Number (Employer Identification Number)

Key Players & Entities

• CHEETAH NET SUPPLY CHAIN SERVICE INC. (company) — Registrant
• Huan Liu (person) — Chief Executive Officer
• Ying Li (person) — Legal Counsel
• Guillaume de Sampigny (person) — Legal Counsel
• Hunter Taubman Fischer & Li LLC (company) — Legal Counsel
• 333-280743 (dollar_amount) — SEC File Number
• 241110043 (dollar_amount) — Film Number

FAQ

Key Financial Figures

• $0.0001 — ares of Class A common stock, par value $0.0001 per share, at an assumed offering price
• $0.46 — share, at an assumed offering price of $0.46 per share, which is equal to the closin
• $40,000 — e diligence, or related expenses, up to $40,000 in the aggregate, and for its legal exp
• $50,000 — gate, and for its legal expenses, up to $50,000 in the aggregate. For a description of
• $ — e Commission; "U.S. dollars," "USD," "$," and "dollars" are to the legal curren
• $38.3 million — spectively, generating total revenue of $38.3 million and $55.2 million in these periods, rep
• $55.2 million — ting total revenue of $38.3 million and $55.2 million in these periods, representing a decrea
• $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 — r 31, 2023, compared with 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
• $1.5 million — sults of operations.” We reported $1.5 million in revenue during the first quarter of
• $0.6 million — first quarter of 2024 and a net loss of $0.6 million. We expect to report our financial resu
• $0.62 — of Class A common stock for a price of $0.62 per share, less certain placement agent
• $8.19 m — n gross proceeds to us of approximately $8.19 million, before deducing placement agent
• $78,125 — ck, with a termination consideration of $78,125. This termination became effective on M

Filing Documents

• tm2417609d2_s1.htm (S-1) — 650KB
• tm2417609d2_ex1-1.htm (EX-1.1) — 114KB
• tm2417609d2_ex4-1.htm (EX-4.1) — 5KB
• tm2417609d2_ex5-1.htm (EX-5.1) — 10KB
• tm2417609d2_ex10-25.htm (EX-10.25) — 195KB
• tm2417609d2_ex21-1.htm (EX-21.1) — 4KB
• tm2417609d2_ex23-1.htm (EX-23.1) — 4KB
• tm2417609d2_ex23-2.htm (EX-23.2) — 3KB
• tm2417609d2_ex-filingfees.htm (EX-FILING FEES) — 22KB
• tm2417609d1_drsimg001.jpg (GRAPHIC) — 16KB
• tm2417609d1_drsimg002.jpg (GRAPHIC) — 3KB
• tm2417609d1_drsimg004.jpg (GRAPHIC) — 4KB
• tm2417609d2_ex5-1img001.jpg (GRAPHIC) — 9KB
• image_001.gif (GRAPHIC) — 6KB
• image_001.jpg (GRAPHIC) — 4KB
• 0001104659-24-078943.txt ( ) — 1061KB

DILUTION

DILUTION 30 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31

BUSINESS

BUSINESS 31 MANAGEMENT 31 EXECUTIVE AND DIRECTOR COMPENSATION 35 PRINCIPAL STOCKHOLDERS 37 RELATED PARTY TRANSACTIONS 38 DESCRIPTION OF SHARE CAPITAL 39 PLAN OF DISTRIBUTION 41 LEGAL MATTERS 43 EXPERTS 44 CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 44 WHERE YOU CAN FIND ADDITIONAL INFORMATION 44 INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 45 1 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: "2023 Annual Report" are to our annual report on Form 10-K (File No. 001-41761), filed with the SEC (as defined below) on March 18, 2024; "4S Stores" are to automobile dealerships authorized by an automobile manufacturer to engage in the four businesses relating to sales, spare parts, service, and survey; "Cheetah Net" are to Cheetah Net Supply Chain Service Inc., a corporation that was incorporated under the laws of

View Full Filing

View this S-1 filing on SEC EDGAR