Cheetah Net Reports Unregistered Equity Sales
Ticker: CTNT · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1951667
Sentiment: neutral
Topics: unregistered-sales, equity-securities, 8-k
TL;DR
Cheetah Net sold unregistered equity, potentially diluting shares.
AI Summary
Cheetah Net Supply Chain Service Inc. filed an 8-K on December 19, 2024, reporting unregistered sales of equity securities. The filing also includes financial statements and exhibits, with the company's principal executive offices located at 8707 Research Drive, Irvine, California.
Why It Matters
This filing indicates potential dilution for existing shareholders due to the issuance of new equity without prior registration.
Risk Assessment
Risk Level: medium — Unregistered sales can signal financial distress or a need for capital, potentially leading to dilution and increased risk for investors.
Key Players & Entities
- Cheetah Net Supply Chain Service Inc. (company) — Registrant
- 8707 Research Drive, Irvine, California (location) — Principal Executive Offices
- December 19, 2024 (date) — Date of Report
FAQ
What type of equity securities were sold?
The filing does not specify the type of equity securities sold, only that they were unregistered.
What was the total value of the unregistered equity sold?
The filing does not disclose the total dollar amount of the unregistered equity securities sold.
Who purchased the unregistered equity securities?
The filing does not identify the purchasers of the unregistered equity securities.
What is the reason for the unregistered sale of equity securities?
The filing does not provide a specific reason for the unregistered sale of equity securities.
When did the unregistered sale of equity securities occur?
The filing indicates the event occurred on or before December 19, 2024, as it is reported as the date of the earliest event.
Filing Stats: 644 words · 3 min read · ~2 pages · Grade level 13.6 · Accepted 2024-12-20 16:05:37
Key Financial Figures
- $200,000 — ice that included (i) a cash payment of $200,000, paid to the Sellers on December 3, 202
Filing Documents
- tm2431751d1_8k.htm (8-K) — 26KB
- 0001104659-24-130807.txt ( ) — 196KB
- ctnt-20241219_lab.xml (EX-101.LAB) — 33KB
- ctnt-20241219_pre.xml (EX-101.PRE) — 22KB
- ctnt-20241219.xsd (EX-101.SCH) — 3KB
- tm2431751d1_8k_htm.xml (XML) — 4KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. As previously disclosed, 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 (collectively, the "Sellers"). On December 19, 2024, the Corporation closed the acquisition for a total purchase price that included (i) a cash payment of $200,000, paid to the Sellers on December 3, 2024, (ii) 140,845 shares of the Corporation's unregistered Class A common stock, issued to Weishu Guo on December 19, 2024, (iii) 187,794 shares of the Corporation's unregistered Class A common stock, issued to Jiancheng Li on December 19, 2024, and (iv) 140,845 shares of the Corporation's unregistered Class A common stock, issued to Jianhui Li on December 19, 2024. The shares of Class A common stock were issued in reliance of the exemption provided by Regulation S under the Securities Act of 1933, as amended, which pertains to offerings made outside the United States. 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 was filed as Exhibit 10.1 to the Corporation's Current Report on Form 8-K dated December 3, 2024 and is incorporated by reference herein.
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 (incorporated by reference to Exhibit 10.1 of the Corporation's Form 8-K (File No. 001-41761), filed on December 3, 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 20, 2024 Cheetah Net Supply Chain Service Inc. By: /s/ Huan Liu Huan Liu Chief Executive Officer, Director, and Chairman of the Board of Directors