8-K: Cheetah Net Supply Chain Reports on ATM Offering and Reverse Stock Split

Cheetah Net Supply Chain Service Inc. provides an update on its at-the-market offering and the completion of a 1-for-150 reverse stock split.

Summary

• Cheetah Net Supply Chain Service Inc. (the Company) has provided an update on its at-the-market (ATM) offering and a reverse stock split.
• As of September 25, 2026, the Company sold approximately 196,850,000 shares of Class A Common Stock under the ATM offering, before the reverse stock split.
• The Company completed a 1-for-150 reverse stock split of its Class A and Class B Common Stock, effective September 28, 2026.
• Following the reverse stock split, the Company has approximately 1,332,087 shares of Class A Common Stock and 1,358 shares of Class B Common Stock outstanding.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to the significant dilution from the ATM offering and the reverse stock split, indicating potential financial distress or a need for capital.

Negatives

• The company has sold a substantial number of shares through its ATM offering, indicating a potential need for capital or ongoing financial challenges.
• The significant 1-for-150 reverse stock split suggests the company's stock price may have fallen to very low levels, often a sign of underlying business issues or investor concern.
• The large number of shares issued under the ATM offering prior to the reverse split implies significant dilution for existing shareholders.

Risks

• Continued dilution of shareholder value due to ongoing ATM offerings.
• Potential for further stock price decline if the underlying business performance does not improve.
• Challenges in attracting and retaining investors after a reverse stock split, which can be perceived negatively.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the ongoing nature of the ATM offering as previously disclosed.

Management Comments

• Huan Liu, Chief Executive Officer, Interim Chief Financial Officer, Director, and Chairman of the Board of Directors, signed the report.

Industry Context

StockSavvy.ai notes that the use of ATM offerings and reverse stock splits by companies, particularly those in supply chain services, can signal a need to bolster cash reserves or meet exchange listing requirements. This is often a response to market pressures or operational challenges.

Stakeholder Impact

• Shareholders face significant dilution from the large volume of shares sold under the ATM offering.
• Existing shareholders' per-share ownership is drastically reduced due to the 1-for-150 reverse stock split.

Next Steps

• The Company may continue to offer and sell shares of its Class A Common Stock under the Sales Agreement from time to time.
• The Company will continue to operate under its post-reverse stock split share structure.

Key Dates

Recommendation

The combination of a substantial at-the-market offering and a significant reverse stock split strongly suggests underlying financial difficulties and significant dilution for existing shareholders. These actions are typically taken when a company is struggling to maintain its stock price or meet financial obligations, making it a high-risk investment.

Keywords

ATM Offering, Reverse Stock Split, Class A Common Stock, Capital Raise, Shareholder Dilution, Cheetah Net Supply Chain