Cheetah Net Supply Chain Service Inc. Reports ATM Sales; Completes 1-for-150 Reverse Split

What Happened

• Cheetah Net Supply Chain Service Inc. filed an 8-K reporting activity under a sales agreement with Pacific Century Securities, LLC (the ATM Offering) and the completion of a 1-for-150 reverse stock split. The Sales Agreement (entered August 21, 2026) allows offers and sales of Class A common stock with an aggregate offering price up to $35,280,213.01. As of September 25, 2026, the company had sold approximately 196,850,000 shares of Class A common stock under the ATM Offering (reported on a pre-split basis). The 1-for-150 reverse stock split for both Class A and Class B common stock became effective September 28, 2026. After giving effect to the reverse split and adjusting for fractional shares, the company reports approximately 1,332,087 shares of Class A and approximately 1,358 shares of Class B outstanding.

Key Details

• ATM offering size authorized: up to $35,280,213.01.
• Shares sold under ATM (pre-split): ~196,850,000 Class A shares (as of Sept 25, 2026).
• Reverse stock split: 1-for-150 effective Sept 28, 2026.
• Post-split outstanding shares (after fractional adjustments): ~1,332,087 Class A; ~1,358 Class B.

Why It Matters

• The ATM sales indicate the company has been issuing shares to raise capital under the sales agreement; investors should note past and potential future dilution from these issuances.
• The reverse split materially reduces the number of shares outstanding and typically increases the per-share price; this can affect trading liquidity, market perception, and how investors calculate ownership percentages.
• Retail investors should use the updated post-split share counts when evaluating holdings and watch subsequent filings for details on proceeds, use of funds, and any additional share issuances.