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An announcement from Cheetah Net Supply Chain Service, Inc. Class A (CTNT) is now available.
Cheetah Net Supply Chain Service Inc. has successfully executed a follow-on offering, selling over 6 million shares at $0.23 each to institutional investors. Along with the right to participate in future equity financings, these investors are subject to a 90-day lock-up period. The offering, managed by FT Global Capital, Inc. as the exclusive placement agent, raised funds primarily for the company’s working capital and general corporate needs. The transaction, detailed in registration statements and prospectuses available on the SEC’s website, was closed on July 26, 2024, with the company committing to a 7.25% fee to the placement agent plus expense reimbursements.
For detailed information about CTNT stock, go to TipRanks’ Stock Analysis page.