Cheetah Net Supply Chain Service Inc. filed a Definitive Consent Revocation Statement (DEFC14A) on November 13, 2026, urging stockholders to oppose a written-consent solicitation by Takeover Time 2026 LLC and affiliated individuals seeking to remove and replace the company's entire board of directors.

Key Highlights

  • Three mutually conditioned proposals: The Takeover Time Consent Solicitation seeks to fix board size at five, remove all five current directors without cause, and elect five Takeover Time nominees, with no proposal effective unless all three are approved.
  • Record date set: October 19, 2026 was established as the record date, the date the first written consent was delivered to the company.
  • Shares outstanding: As of the record date, 1,332,087 shares of Class A Common Stock and 101,358 shares of Class B Common Stock were outstanding and entitled to act by consent.
  • Voting power structure: Each share of Class A Common Stock carries one vote; each share of Class B Common Stock carries fifteen votes on the Takeover Time Proposals.
  • Majority threshold required: The Takeover Time Proposals can be adopted only if stockholders holding a majority of the voting power of the outstanding Common Stock affirmatively consent.
  • Board's characterization of the opposing group: The board stated the Takeover Time Group "was organized only weeks ago" and "collectively holds a very small number of the Company's shares."
  • WHITE card urged: The board urges stockholders to sign, date, and return the enclosed WHITE Consent Revocation Card, and notes that previously signed consent cards may be revoked at any time before consents become effective.

Cheetah Net's Board Opposes Consent Solicitation Targeting Full Director Replacement

According to the filing, Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT), a supply chain service company incorporated in Delaware and headquartered at 8707 Research Drive, Irvine, California 92618, is asking its stockholders to revoke or withhold consent in response to a solicitation by Takeover Time 2026 LLC, Natasha Yuryevna Ovsepyan, Jourdan Pierce Matthews, Walter Franklin Harris, Carol Grimes, and Yan Qin. The board disclosed that the Takeover Time Group filed its own definitive consent solicitation statement with the SEC on October 20, 2026, seeking to execute a complete change in board composition through a single written-consent action without convening a stockholder meeting.

The filing describes three interlinked proposals: first, amending Section 3.2 of the company's Bylaws to fix the number of directorships at five immediately before removal and election actions take effect; second, removing all five current directors without cause; and third, electing five Takeover Time nominees to those seats. The board stated in the filing that it views the Board Size Proposal as "not an independent governance measure" because it "is expressly conditioned on the Group's proposals to remove the Company's five incumbent directors and elect five replacement nominees." The filing notes that the board acknowledges the subjects the Takeover Time Group raised, including dilution, stock-price performance, deployment of the company's cash, liquidity, and financial-reporting controls, and states it responds to those subjects "directly and candidly" in the full Consent Revocation Statement.

The company disclosed that this Consent Revocation Statement and the WHITE Consent Revocation Card were first mailed or made available to stockholders on or about November 20, 2026. The filing was signed by Huan Liu, identified as Chief Executive Officer, Director, and Chairman of the Board of Directors. Stockholders who have already returned a consent card to the Takeover Time Group are advised in the filing that they retain the right to revoke that consent at any time before the consents become effective.

What Was Disclosed

Cheetah Net Supply Chain Service Inc.'s board filed a Definitive Consent Revocation Statement on November 13, 2026, opposing a three-part written-consent solicitation by the Takeover Time Group that would, if approved, remove and replace all five current directors of the company.