Activist Reveals Full Slate Details in Revised Consent Solicitation to Replace Entire Cheetah Net Board
CTNT sits 19% above its 52-week low of $2.31 on light trading volume (0.2× avg).
Summary
Activist Takeover Time 2026 LLC filed a revised consent statement detailing its five nominees and revealing it sold its entire CTNT stake on September 28, 2026. The campaign seeks to replace all five directors of the distressed supply-chain company.
Key Events · Corporate Governance and Compliance · CTNT
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Activist Sold Entire Stake
Takeover Time 2026 LLC sold all 12,306 post-split Class A shares on September 28, 2026, reducing its ownership to zero while continuing to solicit consents to replace the board.
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Five Nominees Detailed
Nominees include Natasha Ovsepyan (1 share), Jourdan Matthews (~27.45 shares), Walter Harris (0), Carol Grimes (0), and Yan Qin (22,670 shares). Grimes is Matthews' mother.
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Board Replacement Mechanics
Three mutually conditioned proposals: set board size at five, remove all five incumbents without cause, and elect the five Takeover Time nominees. Requires >50% of voting power (~676,229 votes based on September 30 figures).
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Post-Election Agenda
If elected, the new board intends to terminate the $35.28M ATM program, review the pending JoyPak acquisition for possible termination, and prioritize collection of the RMB 280M (~$41.1M) Shanghai Kesheng receivable due December 30, 2026.
Analysis · CTNT · Trade & Services
Takeover Time 2026 LLC has filed a revised preliminary consent statement fleshing out its campaign to replace all five Cheetah Net directors. The new filing reveals the activist sold its entire 12,306-share post-split position on September 28, 2026 — meaning the soliciting entity now owns zero shares while still seeking to control the board. It also discloses nominee Yan Qin holds 22,670 Class A shares, that two nominees are mother and son, and that the campaign will cost roughly $50,000. The solicitation targets a company already under severe distress: ineffective internal controls, going-concern considerations, a $41.1M receivable from a terminated investment, and a CEO who also serves as interim CFO. If successful, the new board intends to terminate the $35.28M ATM program, review the pending JoyPak acquisition, and prioritize collection of the Shanghai Kesheng receivable due December 30, 2026.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 36.2% of the 1071 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CTNT was trading at $2.76 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.7M. The 52-week trading range was $2.31 to $63,599.58. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.