CHEETAH NET SUPPLY CHAIN SERVICE INC. Announces 1-for-150 Reverse Stock Split

What Happened

• CHEETAH NET SUPPLY CHAIN SERVICE INC. (CTNT) announced a reverse stock split of its common stock at a ratio of 1-for-150. The Board approved the Reverse Stock Split on August 11, 2026, and the Company filed a Certificate of Amendment that became effective at 8:00 a.m. Eastern Time on September 21, 2026. Stockholders had earlier approved potential reverse splits (up to 1-for-2,000) by written consent on June 16, 2026.

Key Details

• Reverse Stock Split ratio: 1-for-150 (board-selected within previously authorized 1-for-2,000 range).
• Effective date/time: Certificate of Amendment filed Sept 15, 2026; became effective Sept 21, 2026 at 8:00 a.m. ET.
• Shares outstanding (pre-split): 199,805,935 Class A and 203,456 Class B.
• Shares outstanding (post-split, subject to fractional rounding): ~1,332,040 Class A and ~1,357 Class B. Fractional shares were rounded up to the nearest whole share at the participant level; par value per share unchanged.
• Nasdaq trading: Class A Common Stock expected to trade on a post-split basis on The Nasdaq Capital Market under symbol "CTNT" with new CUSIP 16307X400 beginning market open on Sept 28, 2026.
• Equity plan adjustment: The Company’s Amended and Restated 2024 Stock Incentive Plan and outstanding awards were proportionately adjusted (shares available and exercise prices) to reflect the Reverse Stock Split.

Why It Matters

• A reverse stock split reduces the number of outstanding shares and increases the per-share price proportionally; this can affect trading liquidity, share count calculations, and per-share metrics.
• The change may impact small holders due to fractional-share treatment (rounded up here) and will alter share counts used for ownership percentages and outstanding diluted shares.
• Adjustments to the company’s equity incentive plan preserve the economic terms of awards, but investors should note the new share counts and CUSIP when tracking holdings or trading CTNT.