Cheetah Net Fires Back at Activist, Will File Consent Revocation to Block Board Overhaul
CTNT sits 39% above its 52-week low of $2.28.
Summary
Cheetah Net formally responded to Takeover Time 2026 LLC's revised consent solicitation, saying it will file a preliminary consent revocation statement and a WHITE revocation card to fight the removal of its five-member board. The company says it is reviewing the implications of a board replacement on management oversight, contractual commitments, financing arrangements and strategic initiatives. This is the first direct company response in the proxy fight, following Takeover Time's PREC14A on Oct 1, its revised PRRN14A on Oct 8, and a DFAN14A filed today disclosing Delaware litigation over Cheetah's October issuance of 1 million shares. The fight matters because Takeover Time's stake collapsed from 62.45% to 0.92% after massive share issuance, and the company's Q2 10-Q already flagged ineffective internal controls and going concern doubt. The board's own language about "transparent financial reporting" and "effective internal controls" reads as an implicit concession of the governance problems the activist is targeting.
At the time of this announcement, CTNT was trading at $3.18 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4.2M. The 52-week trading range was $2.28 to $63,600.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.