Cheetah Net (CTNT) completes 1-for-200 reverse split after large ATM share sales

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Cheetah Net Supply Chain Service Inc. implemented a 1-for-200 reverse stock split of its Class A and Class B Common Stock, effective at 8:00 a.m. Eastern Time on April 20, 2026. Every 200 shares were automatically combined into one new share, with fractional shares rounded up to the nearest whole share.

As a result, issued and outstanding Class A shares decreased from 391,177,712 to 1,955,889, and Class B shares decreased from 690,875 to 3,455, while par value per share was unchanged. The company plans for its Class A shares to begin trading on a split-adjusted basis on April 29, 2026 with a new CUSIP. The 2024 Stock Incentive Plan share pool and award exercise prices were proportionately adjusted. The filing also notes that, as of April 23, 2026 and before the split, 391,177,712 Class A shares were outstanding after selling 355,000,000 Class A shares in at-the-market transactions under a March 31, 2026 Sales Agreement.

Positive

None.

Negative

Significant equity dilution and reverse split: The company reports 355,000,000 Class A shares sold in at-the-market transactions before a 1-for-200 reverse stock split that reduced outstanding Class A shares from 391,177,712 to 1,955,889 and Class B shares from 690,875 to 3,455.

Insights

Large pre-split share issuance followed by a 1-for-200 reverse split heavily reshapes CTNT’s equity base.

The company combined every 200 shares into one, cutting outstanding Class A shares from 391,177,712 to 1,955,889 and Class B shares from 690,875 to 3,455. This does not change overall market value by itself but concentrates ownership into fewer shares.

The disclosure also shows that, as of April 23, 2026 and before the split, 391,177,712 Class A shares were outstanding after selling 355,000,000 Class A shares through at-the-market transactions under a March 31, 2026 Sales Agreement. This indicates substantial recent issuance of equity. Proportionate adjustments to the 2024 Stock Incentive Plan align awards with the new share count and exercise prices.

8-K Event Classification

4 items: 3.03, 5.03, 8.01, 9.01

4 items

Item 3.03 Material Modification to Rights of Security Holders Securities

A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Governance

The company amended its charter documents, bylaws, or changed its fiscal year.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Reverse split ratio: 1-for-200 Class A shares before split: 391,177,712 shares Class A shares after split: 1,955,889 shares +5 more

8 metrics

Reverse split ratio 1-for-200 Reverse Stock Split Ratio effective April 20, 2026

Class A shares before split 391,177,712 shares Issued and outstanding pre-split Class A Common Stock

Class A shares after split 1,955,889 shares Issued and outstanding post-split Class A Common Stock

Class B shares before split 690,875 shares Issued and outstanding pre-split Class B Common Stock

Class B shares after split 3,455 shares Issued and outstanding post-split Class B Common Stock

ATM Class A shares sold 355,000,000 shares Class A shares sold in at-the-market transactions under March 31, 2026 Sales Agreement

Voting power of key holders 79.16% Voting power of Class B holders approving amendments on February 3, 2026

New CUSIP 16307X301 CUSIP for Class A Common Stock on split-adjusted trading from April 29, 2026

Key Terms

reverse stock split, at-the-market, Sales Agreement, Certificate of Amendment, +2 more

6 terms

reverse stock split financial

"approved a reverse stock split (the “Reverse Stock Split”) of the Common Stock at a ratio of 1-for-200"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

at-the-market financial

"sale of 355,000,000 shares of Class A Common Stock ... in “at-the-market” transactions under the previously disclosed Sales Agreement"

"At-the-market" is a method for companies to sell new shares of stock directly into the open market over time, rather than all at once. It allows companies to raise money gradually, similar to selling slices of a pie instead of the entire pie at once, which can help manage the sale's impact on the stock price. This approach gives investors a steady supply of shares while providing companies with flexible funding options.

Sales Agreement financial

"at-the-market transactions under the previously disclosed Sales Agreement dated March 31, 2026 with AC Sunshine Securities LLC"

A sales agreement is a written contract that sets out the terms for selling goods, services, or assets, specifying price, delivery, payment schedule and responsibilities of each side. For investors it matters because it creates a predictable stream of revenue or cash obligations, clarifies timing and risk, and can change a company’s value or forecasts much like a signed order turns a customer’s verbal intent into a firm commitment.

Certificate of Amendment regulatory

"the Company filed its Certificate of Amendment to the Certificate of Incorporation with the Secretary of State of Delaware"

A certificate of amendment is an official filing that updates a company’s founding documents—its legal “rulebook” that sets share structure, voting rules, name and basic purpose. Think of it like changing the blueprint of a building: small changes are paperwork, big ones can alter who owns how much and who controls decisions. Investors watch these filings because they can affect share counts, voting power, dilution and company value.

Amended and Restated 2024 Stock Incentive Plan financial

"proportionate adjustments were made to the Company’s Amended and Restated 2024 Stock Incentive Plan based on the Reverse Stock Split Ratio"

Schedule 14C regulatory

"after the Company mailed the definitive information statement on Schedule 14C filed with the U.S. Securities and Exchange Commission"

Schedule 14C is an SEC filing that companies use to send an official information statement to shareholders when they are not asking for proxy votes. It lays out key facts about corporate actions—such as reorganizations, related-party transactions, or changes in governance—so investors can understand what’s happening without being asked to vote, like receiving a detailed neighborhood notice about a rule change rather than a petition. Because it provides formal, regulated disclosure, Schedule 14C helps investors verify claims, weigh potential impacts on ownership or value, and hold management accountable.

Understanding 8-K Material Events →

04/24/2026 - 04:16 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2026

Cheetah Net Supply Chain Service Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-41761		81-3509120
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

8707 Research Drive, Irvine, California		92618
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (949) 740-7799

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock		CTNT		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 3.03 Material Modification to Rights of Security Holders.

As previously disclosed, on February 3, 2026, the board of directors (the “Board”) of Cheetah Net Supply Chain Service Inc., a Delaware corporation (the “Company”), approved and adopted one or more potential amendments (the “Proposed Amendments”) to the Certificate of Incorporation of the Company (the “Certificate of Incorporation”) to effect one or more reverse stock splits of the Company’s issued and outstanding shares of common stock, par value $0.0001 per share (the “Common Stock”), consisting of Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and Class B common stock, par value $0.0001 per share (“Class B Common Stock”), at such ratio or ratios as shall be determined by the Board in its sole discretion, provided that the aggregate ratio of all such reverse stock splits shall not exceed 1-for-500, to be effected at such time or times within 12 months following the approval of the Company’s stockholders. On February 3, 2026, FAIRVIEW EASTERN INTERNATIONAL HOLDINGS LIMITED and Huan Liu, collectively holding shares of Class B Common Stock representing approximately 79.16% of the voting power of the issued and outstanding capital stock of the Company as of that date, approved and adopted the Proposed Amendments and the reverse stock splits through a written consent in lieu of a special meeting of stockholders. Such corporate actions became effective on March 10, 2026, which was 20 calendar days after the Company mailed the definitive information statement on Schedule 14C filed with the U.S. Securities and Exchange Commission on February 13, 2026.

Following the approval of the Company’s stockholders, on March 23, 2026, the Board approved a reverse stock split (the “Reverse Stock Split”) of the Common Stock at a ratio of 1-for-200 (the “Reverse Stock Split Ratio”). To implement the Reverse Stock Split, the Company filed its Certificate of Amendment to the Certificate of Incorporation with the Secretary of State of Delaware on March 24, 2026. The Reverse Stock Split took effect at 8:00 a.m., Eastern Time, on April 20, 2026 (the “Effective Time”).

At the Effective Time, every 200 shares of Common Stock outstanding were automatically combined into one new share of Common Stock. No fractional shares were issued in connection with the Reverse Stock Split; any fractional shares resulting from the Reverse Stock Split were rounded up to the nearest whole share. The par value per share of the Common Stock remained unchanged. As a result of the Reverse Stock Split, the Company’s issued and outstanding Class A Common Stock was reduced from 391,177,712 shares to 1,955,889 shares, and the Company’s issued and outstanding Class B Common Stock was reduced from 690,875 shares to 3,455 shares. The Class A Common Stock of the Company is expected to begin trading on a split-adjusted basis on April 29, 2026, at which time the Class A Common Stock will be assigned a new CUSIP number (16307X301).

Additionally, at the Effective Time, proportionate adjustments were made to the Company’s Amended and Restated 2024 Stock Incentive Plan based on the Reverse Stock Split Ratio, including adjustments to the number of shares available for awards and the exercise price of outstanding awards.

The foregoing description of the Reverse Stock Split does not purport to be complete and is subject to and qualified in its entirety by reference to the Company’s Certificate of Amendment to the Certificate of Incorporation, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

The information set forth under Item 3.03 of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.

Item 8.01 Other Events.

As of April 23, 2026, following the sale of 355,000,000 shares of Class A Common Stock, par value $0.0001 per share, in “at-the-market” transactions under the previously disclosed Sales Agreement dated March 31, 2026 with AC Sunshine Securities LLC, the Company had 391,177,712 shares of Class A Common Stock issued and outstanding, on a pre-split basis.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Exhibit
3.1		Certificate of Amendment to the Certificate of Incorporation of the Company
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

	Cheetah Net Supply Chain Service Inc.

Date: April 24, 2026	By:	/s/ Huan Liu
		Huan Liu
		Chief Executive Officer, Director, and Chairman of the Board of Directors (Principal Executive Officer)

Source: View Original Filing on SEC EDGAR

FAQ

What reverse stock split did Cheetah Net (CTNT) implement?

Cheetah Net implemented a 1-for-200 reverse stock split, combining every 200 shares of Class A and Class B Common Stock into one share. The split became effective at 8:00 a.m. Eastern Time on April 20, 2026, with fractional shares rounded up.

How did Cheetah Net’s outstanding shares change after the reverse split?

After the 1-for-200 reverse split, Class A Common Stock outstanding fell from 391,177,712 shares to 1,955,889, and Class B Common Stock fell from 690,875 shares to 3,455. The par value per share remained $0.0001, so only the share counts changed, not nominal value.

When will Cheetah Net Class A shares trade on a split-adjusted basis?

Cheetah Net’s Class A Common Stock is expected to begin trading on a split-adjusted basis on April 29, 2026. At that time, the shares will have a new CUSIP number, 16307X301, reflecting the completed 1-for-200 reverse stock split disclosed in the filing.

How many Cheetah Net Class A shares were sold through at-the-market transactions?

The company states that 355,000,000 shares of Class A Common Stock were sold in at-the-market transactions under a March 31, 2026 Sales Agreement. Following these sales, as of April 23, 2026 and before the reverse split, 391,177,712 Class A shares were issued and outstanding.

How were Cheetah Net’s stock incentive plan awards affected by the reverse split?

At the effective time of the reverse split, Cheetah Net made proportionate adjustments to its Amended and Restated 2024 Stock Incentive Plan. The number of shares available for awards and the exercise prices of outstanding awards were revised based on the 1-for-200 Reverse Stock Split Ratio.

Who approved Cheetah Net’s reverse stock split amendments?

On February 3, 2026, the board approved proposed amendments, and FAIRVIEW EASTERN INTERNATIONAL HOLDINGS LIMITED and Huan Liu, holding about 79.16% of voting power through Class B shares, approved them by written consent. The actions became effective March 10, 2026, after mailing a Schedule 14C information statement.

Filing Exhibits & Attachments

4 documents