Business Context and Reporting Period
Company: Cheetah Net Supply Chain Service Inc. (CTNT)
Filing Type: Form 8-K (Current Report)
Date of Report: August 21, 2026
Reporting Period: Event-based (August 21, 2026)
Business Context: The Company, an emerging growth company incorporated in Delaware, entered into a material definitive agreement to establish an "at-the-market" (ATM) equity offering program.
Key Financial Metrics and Transaction Details
This filing does not report standard financial performance metrics (revenue, profit, cash flow, margins, or debt) as it is a current report regarding a specific corporate action. Key transaction metrics include:
- Aggregate Offering Price: Up to $35,280,213.01 in Class A Common Stock.
- Sales Agent: Pacific Century Securities, LLC.
- Commission Rate: 3.0% of aggregate gross proceeds from each sale.
- Expense Reimbursements:
- Up to $100,000 for the initial offering.
- Up to $14,000 per fiscal year for maintenance (capped at $5,000 per Representation Date).
- Up to $10,000 per update to the ATM program.
Material Changes Versus Prior Period
The filing does not provide comparative financial data or operational changes versus a prior period. The material change is the establishment of the new Sales Agreement, granting the Company the option to sell shares from time to time based on market conditions and Company instructions. The Company is under no obligation to sell any shares under this agreement.
Guidance, Outlook, and Risks
Management Commentary: The Company may offer and sell shares through the Sales Agent using commercially reasonable efforts consistent with normal trading practices. Sales may occur directly on the Nasdaq Capital Market or through a market maker.
Risks and Contingencies:
- Dilution: Issuance of shares under the ATM program will result in dilution to existing shareholders.
- Market Conditions: The Company is not obligated to sell shares; sales depend on market conditions and Company discretion.
- Costs: The Company bears the cost of commissions and specified legal/expenses regardless of the volume of shares sold.
Investor Verification Checklist
- Verify the current share price and market capitalization to assess the potential dilution impact of the $35.28 million offering.
- Review the full text of the Sales Agreement (Exhibit 10.1) for specific termination rights and price limitations.
- Check the Company's most recent 10-K or 10-Q for current liquidity levels and cash burn rate to understand the necessity of this capital raise.
- Confirm the status of the underlying Form S-3 Registration Statement (No. 333-281820) filed in August 2024.