Cheetah Net Supply Chain Service Inc. - Class A Common Stock (CTNT)

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Cheetah Net (NASDAQ: CTNT), a supplier of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, recently announced the closing of its initial public offering of 1,250,000 shares of Class A common stock. The company secured gross proceeds of $5.0 million, with each share of Class A common stock sold at an offering price of $4.00. In addition, Cheetah Net granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of Class A common stock to cover over-allotments at the initial public offering price, less the underwriting discount. The Class A shares began trading under the symbol CTNT on the Nasdaq Capital Market on Aug. 1, 2023. Maxim Group LLC acted as sole book-running manager for the offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the company, and Loeb & Loeb LLP acted as U.S. counsel to Maxim Group LLC in connection with the offering.