Cheetah Net Supply Chain Service Inc. announces pricing of $1.49 million follow-on public offering

Cheetah Net Supply Chain Service Inc. (“Cheetah Net” or the “Company”), a provider of warehousing and logistics services, historically in connection with the sale of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, and more recently for the transportation of other goods between the U.S. and the PRC, today announced that it has entered into a securities purchase agreement with certain investors for a follow-on offering of 6,479,663 shares of Class A common stock, at a price of $0.23 per share, for gross proceeds of approximately $1.49 million, before deducting offering related fees and expenses.

Cheetah Net intends to use the net proceeds received from the offering for working capital and general corporate purposes. The offering is expected to close on or about July 26, 2024, subject to satisfaction of customary closing conditions.

FT Global Capital, Inc. is acting as the exclusive placement agent in connection with the offering.

The securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-280743) filed with the U.S. Securities and Exchange Commission (the “SEC”), which was declared effective on July 15, 2024. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offering is being made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering, when available, may be obtained from FT Global Capital, Inc., 1688 Meridian Avenue, Ste. 700, Miami Beach, FL 33139.