NetworkNewsBreaks – Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT) Secures $5M in IPO
Cheetah Net (NASDAQ: CTNT), a supplier of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, recently announced the closing of its initial public offering of 1,250,000 shares of Class A common stock. The company secured gross proceeds of $5.0 million, with each share of Class A common stock sold at an offering price of $4.00. In addition, Cheetah Net 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. The Class A shares…