Cheetah Net Launches New $35.3M ATM Program With Pacific Century Securities
CTNT is trading near its 52-week low of $1.43 (9.7% above the low).
Summary
A prospectus supplement has been filed for a new $35.28 million ATM offering with Pacific Century Securities, replacing the terminated AC Sunshine program. The offering could issue up to 22.6 million new shares — over 7x the current outstanding count — as the company seeks working capital amid going concern warnings.
Key Events · Financing and Capital Events · CTNT
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New $35.3M ATM Program Established
A sales agreement dated August 21, 2026 with Pacific Century Securities (PCS) authorizes the sale of up to $35,280,213.01 of Class A common stock at market prices.
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Extreme Dilution Potential
At an assumed $1.56 per share, the offering could issue up to 22,615,521 new shares — approximately 7.65 times the 2,955,935 Class A shares currently outstanding.
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Replaces Terminated AC Sunshine ATM
The prior ATM with AC Sunshine Securities was mutually terminated on June 26, 2026 after raising approximately $30.9 million in net proceeds from 2,775,000 shares sold.
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Sales Agent Compensation
PCS receives a 3.0% commission on gross proceeds plus expense reimbursements up to $100,000 initially and $14,000 annually for program maintenance.
Analysis · CTNT · Trade & Services
A new at-the-market offering program has been established with Pacific Century Securities, permitting the sale of up to $35.28 million of Class A common stock. This follows the termination of the prior ATM with AC Sunshine Securities in June 2026, which had already raised approximately $30.9 million. The new program could issue up to 22.6 million additional shares at the assumed $1.56 price — roughly 7.65 times the current 2.96 million shares outstanding — representing extreme dilution potential. The company continues to operate under going concern considerations and ineffective internal controls disclosed in its August 13, 2026 10-Q, making this capital raise a survival mechanism rather than a growth initiative.
How filings like this one have moved
In the 30 days to Aug 24, 2026, 37.5% of the 3362 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. 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 $1.57 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $5M. The 52-week trading range was $1.43 to $424.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.