Cheetah net supply chain service inc. announces closing of $5.0 million initial public offering

Charlotte, n.c., aug. 03, 2023 (globe newswire) --  cheetah net supply chain service inc. (“cheetah net” or the “company”) (nasdaq: ctnt), a supplier of parallel-import vehicles sourced in the u.s. to be sold in the prc market, today announced the closing of its previously announced initial public offering of 1,250,000 shares of class a common stock. each share of class a common stock was sold at an offering price of $4.00, for gross proceeds of $5.0 million, before deducting underwriting discounts and offering expenses. in addition, cheetah net has 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.
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