CHARLOTTE, N.C., May 15, 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 logistics and warehouse service provider, today announced the closing of its follow-on offering of 13,210,000 shares of Class A common stock. Each share of Class A common stock was sold at an offering price of $0.62, for gross proceeds of $8.19 million, before deducting placement agent fees and other offering fees and expenses. All the shares of Class A common stock were 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. AC Sunshine Securities LLC acted as the sole placement agent in connection with the offering. The securities described above were 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 Form S-1 (File No. 333-279388) ...