CHARLOTTE, N.C., May 14, 2024 (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 and a logistic and warehouse service provider, today announced the pricing of its follow-on offering of 13,210,000 shares of Class A common stock. Each share of Class A common stock is being sold at an offering price of $0.62, for gross proceeds of $8,190,200, before deducting placement agent fees and other offering fees and expenses. All shares of Class A common stock are being offered by the Company. Cheetah Net intends to use the net proceeds received from the offering to fund working capital and to develop its warehousing and logistics services. The offering is expected to close on or about May 15, 2024, subject to satisfaction of customary closing conditions. AC Sunshine Securities LLC is acting as the sole placement agent in connection with the offering. The securities described above are being offered by the Company pursuant to a registration statement on Form S-1, as amended (File No. 333-276300) filed with the U.S. Securities and Exchange Commission (the "SEC"), which was declared effective on April 26, 2024, and a registration statement on ...