Corporate ActionJun 29, 2026, 04:22 PM
Cheetah Net Terminates At-The-Market Equity Offering Agreement
AI Summary
Cheetah Net Supply Chain Service Inc. and AC Sunshine Securities LLC have mutually agreed to terminate their Sales Agreement, effective June 26, 2026. This agreement previously allowed the company to offer and sell Class A common stock through an "at-the-market" offering. Prior to the termination, Cheetah Net sold an aggregate of 2,775,000 shares of Class A common stock (adjusted for a 1-for-200 reverse stock split) through the Sales Agent, with no outstanding fees or expenses due upon termination.
Key Highlights
- Cheetah Net and AC Sunshine Securities LLC mutually terminated their Sales Agreement.
- The termination was effective as of the close of business on June 26, 2026.
- The Sales Agreement facilitated an "at-the-market" offering of Class A common stock.
- Prior to a 1-for-200 reverse stock split, 355,000,000 shares were sold.
- After the reverse stock split, 1,000,000 shares were sold from April 29 to June 18, 2026.
- A total of 2,775,000 Class A common shares (post-split adjusted) were sold under the agreement.
- No amounts, fees, or expenses were due to the Sales Agent upon termination.
Price Impact
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