The massive ATM dilution and reverse split are hallmarks of a distressed micro-cap. Monitor for potential Nasdaq continued listing requirements and any further capital raises or restructuring announcements.
Price Chart
Executive Summary
Cheetah Net Supply Chain Service Inc. disclosed that it sold approximately 196,850,000 pre-split shares under its ATM offering (up to $35,280,213.01) and subsequently effected a 1-for-150 reverse stock split. Post-split, the company has approximately 1,332,087 Class A common shares and 1,358 Class B common shares outstanding. The massive dilution followed by a reverse split signals severe financial distress.
Key Facts
- Company sold approximately 196,850,000 pre-split shares under an ATM offering with an aggregate offering price of up to $35,280,213.01.
- A 1-for-150 reverse stock split became market effective on September 28, 2026.
- Post-split shares outstanding: ~1,332,087 Class A common shares and ~1,358 Class B common shares.
- The ATM offering was entered into on August 21, 2026, with Pacific Century Securities, LLC as sales agent.
Financial Impact
Extreme dilution: ~196.85 million pre-split shares sold in the ATM offering, followed by a 1-for-150 reverse split that compressed the share count to ~1.33 million Class A shares. The offering size was up to $35.28 million.
Risk Factors
- Potential Nasdaq delisting if the stock price fails to maintain compliance post-reverse split.
- Further dilution if the company continues to use the remaining ATM capacity.
- Going-concern risk given the extreme equity structure and apparent need for capital.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-112407 |
| Document: 0001104659-26-112407-index-headers.html | 0001104659-26-112407 |
| Document: 0001104659-26-112407-index.html | 0001104659-26-112407 |
| Document: 0001104659-26-112407.txt | 0001104659-26-112407 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | DEF 14A | $2.69 | awaiting T+20 | — | $2.14 (+20.45%) |
Oct 15, 2026 11d ago | DEFA14A | $2.75 | awaiting T+20 | — | $2.14 (−22.18%) |
Oct 15, 2026 11d ago | Press Release | $2.75 | awaiting T+20 | — | $2.14 (+22.18%) |
Oct 13, 2026 13d ago | SC 13D/A | $2.72 | awaiting T+20 | — | $2.14 (−21.32%) |
Oct 9, 2026 17d ago | 8-K | $2.43 | awaiting T+20 | — | $2.14 (+11.93%) |
Sep 30, 2026 26d ago | 8-K | $2.45 | awaiting T+20 | — | $2.14 (+12.65%) |
Sep 25, 2026 4w ago | SC 13D/A | $3.60 $2.18 | ▲ +39.44% | ▲ +39.41% | $2.14 (+40.56%) |
Sep 23, 2026 4w ago | 8-K | $0.0384 $0.0165 | ▼ −56.94% | ▼ −57.63% | $2.14 (+5472.92%) |
Sep 21, 2026 5w ago | SC 13D | $0.0442 $0.0170 | ▲ +61.54% | ▲ +60.98% | $2.14 (−4741.63%) |
Sep 15, 2026 6w ago | 8-K | $9.30 $2.43 | ▼ −73.87% | ▼ −76.85% | $2.14 (−76.99%) |
US Market Status
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