Cheetah Net Sold 196.85M Shares Under ATM Before 1-for-150 Reverse Split
CTNT is trading near its 52-week low of $2.65 (3.8% above the low).
Summary
Cheetah Net disclosed it sold approximately 196.85 million shares under its $35.28M ATM before the 1-for-150 reverse split, leaving about 1.33 million Class A shares outstanding post-split.
Key Events · Financing and Capital Events · CTNT
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ATM Sales Quantified
Approximately 196,850,000 Class A shares were sold under the ATM Offering as of September 25, 2026, before the reverse split.
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Post-Split Share Count
After the 1-for-150 reverse split, approximately 1,332,087 Class A shares and 1,358 Class B shares are issued and outstanding.
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Massive Dilution Confirmed
The pre-split ATM sales of 196.85M shares explain the collapse of activist investor Natasha Ovsepyan's stake from 62.45% to 0.92%.
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Reverse Split Context
The 1-for-150 reverse split became market effective on September 28, 2026, two days after the ATM sales cutoff date.
Analysis · CTNT · Trade & Services
The filing quantifies the massive dilution from the ATM program: approximately 196.85 million shares were sold as of September 25, 2026, before the 1-for-150 reverse split took effect on September 28. After the split, only about 1.33 million Class A shares remain outstanding. This confirms the ATM was aggressively utilized to raise capital during a period of financial distress, and the reverse split was necessary to maintain Nasdaq listing compliance. The scale of pre-split issuance explains why activist investor Natasha Ovsepyan's stake collapsed from 62.45% to 0.92% as previously disclosed.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1609 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. 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 $2.75 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.6M. The 52-week trading range was $2.65 to $63,599.58. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.