Cheetah Net Supply Chain Service Inc (NASDAQ:CTNT) shares are trading higher by 13.4% to $0.49 during Thursday’s session. The company filed for an offering of Class A common stock.
What Happened?
Cheetah Net is offering up to 6,479,665 shares of its Class A common stock at an assumed price of $0.46 per share on a best effort basis. The final offering price will be negotiated with investors.
Currently, Cheetah Net has 24,148,329 Class A shares. Post-offering, the company will remain a “controlled company” under Nasdaq rules, as CEO Huan Liu will retain 80.16% voting power. Despite this status, Cheetah Net does not plan to use the corporate governance exemptions available to controlled companies.
The offering does not require a minimum number of shares to close and is expected to complete within two business days of its start.
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How To Buy CTNT Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Cheetah Net Supply Chain’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, CTNT has a 52-week high of $14.76 and a 52-week low of $0.40.