Cheetah Net sets $35.3M at-the-market stock plan
Rhea-AI Filing Summary
Cheetah Net Supply Chain Service Inc. (CTNT) entered into a Sales Agreement with Pacific Century Securities, LLC under which CTNT may, from time to time, offer and sell shares of its Class A common stock in an at the market offering having an aggregate offering price of up to $35,280,213.01. The company is not obligated to sell any shares and will direct timing, size, and price parameters through placement notices.
Pacific Century Securities will act as sales agent and will use commercially reasonable efforts to place shares on the Nasdaq Capital Market or other permitted venues. CTNT will pay the agent a 3.0% commission on aggregate gross proceeds from each sale and will reimburse specified expenses, including up to $100,000 for the initial offering, up to $14,000 per fiscal year for maintaining the agreement (capped at $5,000 per Representation Date), and up to $10,000 for each update to the ATM program.
The shares will be offered pursuant to a prospectus supplement dated August 21, 2026, filed with the SEC on August 24, 2026, to CTNT’s effective registration statement on Form S-3 (No. 333-281820). Legal opinions and the full Sales Agreement are filed as exhibits and incorporated by reference.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
ATM offering capacity: $35,280,213.01 aggregate offering price
Sales Agent commission: 3.0% of aggregate gross proceeds
Initial offering expense reimbursement cap: $100,000
+4 more
7 metrics
ATM offering capacity
$35,280,213.01 aggregate offering price
Maximum aggregate offering price of Class A common stock under the Sales Agreement
Sales Agent commission
3.0% of aggregate gross proceeds
Commission payable to Pacific Century Securities, LLC on each sale of shares
Initial offering expense reimbursement cap
$100,000
Maximum reimbursement to Sales Agent in connection with the initial offering
Annual maintenance reimbursement
$14,000 per fiscal year, max $5,000 per Representation Date
Reimbursement cap for maintaining the Sales Agreement each fiscal year
ATM program update reimbursement
$10,000 per update
Reimbursement cap for each update to the ATM program
Form S-3 registration number
333-281820
Registration statement used for the ATM prospectus supplement
Prospectus supplement date
August 21, 2026
Date of the ATM prospectus supplement for the Class A common stock
Key Terms
at the market offering, Sales Agreement, prospectus supplement, registration statement on Form S-3, +1 more
5 terms
at the market offering financial
"method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4)"
An at-the-market offering is a way a company raises cash by selling newly issued shares directly into the open market at prevailing prices, rather than all at once in a single deal. Think of it like turning a faucet on to drip shares into trading at current prices when needed; it gives the company flexibility to raise funds over time but can dilute existing shareholders and potentially affect the stock price, which investors should monitor.
Sales Agreement financial
"entered into a sales agreement (the “Sales Agreement”) with Pacific Century 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.
prospectus supplement regulatory
"The Shares will be offered and sold pursuant to a prospectus supplement dated August 21, 2026"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
registration statement on Form S-3 regulatory
"to the Company’s registration statement on Form S-3 (Registration No. 333-281820)"
A registration statement on Form S‑3 is a short, standardized filing a qualified public company uses to register new securities with regulators so they can be sold to investors; think of it as a pre-approved, reusable permission slip that speeds up future offerings. It matters to investors because it lets the company raise money more quickly and cheaply — which can fund growth or pay debt — but may also lead to share dilution or change in ownership, so it affects value and liquidity.
Representation Date financial
"maintenance of the Sales Agreement (subject to a maximum of $5,000 per Representation Date"
Offering Details
ATM
Offering
Offering Type
ATM
FAQ
What at-the-market equity program did CTNT announce on August 21, 2026?
CTNT entered a Sales Agreement with Pacific Century Securities, LLC allowing it to sell Class A common stock in an at the market offering with an aggregate offering price of up to $35,280,213.01, to be sold from time to time at its discretion.
How much Class A common stock can CTNT sell under the new ATM program?
Cheetah Net Supply Chain Service Inc. (CTNT) may offer and sell shares of its Class A common stock having an aggregate offering price of up to $35,280,213.01 under the at the market Sales Agreement with Pacific Century Securities, LLC.
What commission will CTNT pay under the Sales Agreement for the ATM offering?
Under the Sales Agreement, CTNT will pay Pacific Century Securities, LLC a 3.0% commission on the aggregate gross proceeds from each sale of shares made through the at the market equity program.
What expense reimbursements did CTNT agree to provide the Sales Agent?
CTNT agreed to reimburse up to $100,000 for the initial offering, up to $14,000 per fiscal year for maintaining the Sales Agreement (capped at $5,000 per Representation Date), and up to $10,000 for each update to the ATM program.
AI-generated analysis. How Rhea-AI works. Not financial advice.
