Cheetah Net Supply Chain Service Inc. Announces Closing of $1.49 Million Follow-on Public Offering

Core Viewpoint - Cheetah Net Supply Chain Service Inc. has successfully closed a follow-on offering of 6,479,663 shares of Class A common stock, generating approximately $1.49 million in gross proceeds, which will be utilized for working capital and general corporate purposes [7][4]. Company Overview - Cheetah Net is a provider of logistics and warehouse services, historically known for supplying parallel-import vehicles, particularly luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, sourced from the U.S. market for resale in the PRC market [9]. - The company has shifted its focus to facilitating non-vehicle trade, offering storage services, logistics services, freight forwarding services, and inventory financing services to its clients [9]. Offering Details - The offering was conducted under a registration statement on Form S-1, which was declared effective on July 15, 2024, with a final prospectus filed on July 26, 2024 [8]. - The gross proceeds from the offering amount to approximately $1.49 million before deducting related fees and expenses [7].