Cheetah Net Files 8-K: Material Agreement, Equity Sales
Ticker: CTNT · Form: 8-K · Filed: Dec 3, 2024 · CIK: 1951667
Sentiment: neutral
Topics: material-agreement, equity-sale, filing
TL;DR
Cheetah Net signed a big deal & sold stock on Nov 27. Check the filings.
AI Summary
Cheetah Net Supply Chain Service Inc. entered into a material definitive agreement on November 27, 2024. The company also reported on unregistered sales of equity securities and other events. Financial statements and exhibits are included in this filing.
Why It Matters
This 8-K filing indicates significant corporate activity, including a new material agreement and equity transactions, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement and unregistered equity sales, which can introduce financial and operational risks.
Key Players & Entities
- Cheetah Net Supply Chain Service Inc. (company) — Registrant
- November 27, 2024 (date) — Date of earliest event reported
- 8707 Research Drive, Irvine, California 92618 (address) — Principal Executive Offices
- 949 - 418-7804 (phone_number) — Registrant's telephone number
FAQ
What type of material definitive agreement was entered into by Cheetah Net?
The filing states that a material definitive agreement was entered into, but the specific details of the agreement are not provided in the provided text.
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is November 27, 2024.
Where are Cheetah Net's principal executive offices located?
Cheetah Net's principal executive offices are located at 8707 Research Drive, Irvine, California 92618.
What is the SEC file number for Cheetah Net Supply Chain Service Inc.?
The SEC file number for Cheetah Net Supply Chain Service Inc. is 001-41761.
What is the fiscal year end for Cheetah Net Supply Chain Service Inc.?
The fiscal year end for Cheetah Net Supply Chain Service Inc. is December 31.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-12-03 06:01:13
Key Financial Figures
- $200,000 — Acquisition includes a cash payment of $200,000 and the issuance of the Corporation's C
- $800,000 — ration's Class A common stock valued at $800,000 (the "Shares"), with a per-share price
- $1.704 — he "Shares"), with a per-share price at $1.704. The cash consideration will be paid to
Filing Documents
- tm2429988d1_8k.htm (8-K) — 29KB
- tm2429988d1_ex10-1.htm (EX-10.1) — 255KB
- tm2429988d1_ex99-1.htm (EX-99.1) — 7KB
- tm2429988d1_ex99-1img1.jpg (GRAPHIC) — 25KB
- 0001104659-24-124817.txt ( ) — 556KB
- ctnt-20241127.xsd (EX-101.SCH) — 3KB
- ctnt-20241127_lab.xml (EX-101.LAB) — 33KB
- ctnt-20241127_pre.xml (EX-101.PRE) — 22KB
- tm2429988d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On November 27, 2024, Cheetah Net Supply Chain Service Inc., a North Carolina corporation (the "Corporation"), entered into a stock purchase agreement (the "Agreement") with (i) TW & EW Services Inc, a California corporation (the "Target"), (ii) Jiancheng Li, a Chinese individual, (iii) Weishu Guo, a Chinese individual, and (iv) Jianhui Li, a Chinese individual (Jiancheng Li, Weishu Guo, and Jianhui Li are collectively referred to as the "Sellers"). Pursuant to the Agreement, the Corporation agreed to acquire 100% of the equity interests in the Target from the Sellers (the "Acquisition"). The consideration for the Acquisition includes a cash payment of $200,000 and the issuance of the Corporation's Class A common stock valued at $800,000 (the "Shares"), with a per-share price at $1.704. The cash consideration will be paid to the Sellers on or before December 4, 2024; the Shares will be issued to the Sellers on or before December 20, 2024. The Shares are offered in a private transaction and are not registered under the Securities Act of 1933 (the "Act"), relying on the exemption provided by Regulation S under the Act, which pertains to offerings made outside the United States. Upon the closing of the Acquisition, the Target will become a wholly-owned subsidiary of the Corporation. The Agreement contains customary covenants, closing conditions, and other obligations and rights of the parties. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed herewith as Exhibit 10.1 and is incorporated by reference herein.
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. The disclosure contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02.
01 Other Events
Item 8.01 Other Events. On December 2, 2024, the Company issued a press release to announce the entry into the Agreement. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit 10.1 Agreement dated November 27, 2024 by and among the Company, the Target, and the Sellers 99.1 Press Release dated December 2, 2024 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: December 3, 2024 Cheetah Net Supply Chain Service Inc. By: /s/ Huan Liu Huan Liu Chief Executive Officer, Director, and Chairman of the Board of Directors