Takeover Time seeks to replace entire Cheetah Net board ahead of annual meeting
CTNT•Takeover Time is seeking to replace all five Cheetah Net directors through three conditional written-consent proposals ahead of the December 3, 2026 annual meeting. The board unanimously urged shareholders to reject the campaign; current voting calculations require 1,426,229 consents, or 676,229 excluding disputed shares.
1. Board replacement campaign
Takeover Time is seeking full control of Cheetah Net’s board through three mutually conditional written-consent proposals, and replacements could take effect before the December 3, 2026 annual meeting. Cheetah Net’s board unanimously urged shareholders to reject the campaign.
2. Disputed share issuance
The activist group has challenged dilution, financial-reporting controls and an October issuance of Class B Common Stock to CEO Huan Liu. Current voting calculations require 1,426,229 consents; excluding the disputed shares would lower the threshold to 676,229 votes. A preliminary injunction hearing is tentatively scheduled for November 18, 2026, and no final ruling on the issuance has been made.
