02:17 PM EDT, 05/15/2024 (MT Newswires) -- Cheetah Net Supply Chain Service ( CTNT ) said Wednesday it closed a follow-on public offering of 13.2 million class A common shares at $0.62 apiece and raised about $8.2 million in gross proceeds.

Cheetah Net plans to use net proceeds for working capital and to develop warehousing and logistics services.

The company shares were up more than 1% in recent trading.

Price: 6.50, Change: +0.09, Percent Change: +1.48