Megan Thee Stallion Announces First Single After Settling Lawsuit and Going Independent with 'Cobra'

The rapper recently settled a lawsuit against her former label 1501 Certified Entertainment

Megan Thee Stallion is slithering into her next era.

On Friday, the rapper (whose real name is Megan Pete), 28, announced the release of her first single since the lawsuit against her former record label 1501 Certified Entertainment was settled with "Cobra," which is due Nov. 3.

The Grammy-winning rapper shared the news across her social media channels — including Instagram — with the caption "🐍🐍 COBRA NOVEMBER 3RD 🐍 PRE-SAVE NOW!"

Related: Megan Thee Stallion Teases New Project: 'We Must Shed Our Past'

Alongside the news about her forthcoming single, Megan posted the single artwork which features her soaked and nearly nude in what appears to be a backdrop of a forest or jungle.

According to a press release, "Cobra" will be "the first single released on Hot Girl Productions, Megan’s independent music and entertainment entity. It's also the first solo music from the "Savage" musician since releasing Traumazine in August 2022.

On Monday, Megan shared a video on Instagram teasing new music and a possible corresponding music video with the caption, “ACT ONE 🐍."

The Grammy-winning rapper shared a short video centered on her lips. “Just as a snake sheds its skin, we must shed our past, over and over again," she said in the video.

The clip then cut to a brief glance at the singer in the shadows with snake-like eyes. It then quickly showcased her side profile as she opened her mouth and exposed her fangs.

As the sneak peek concluded, there were two slides that read “A story by Megan Thee Stallion” and “Directed by Douglas Bernardt.”

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Related: Megan Thee Stallion Settles Legal Battle with Former Record Label

On Oct. 19, 1501 Certified Entertainment announced on social media that the singer and the label had "mutually reached a confidential settlement to resolve their legal differences" after a more than three-year legal battle. PEOPLE confirmed the case was settled in Megan's favor.

"I’m pleased to announce that Megan and I have come to the table to resolve our legal differences," 1501 Certified Entertainment CEO Carl Crawford said in a statement to PEOPLE. "During the course of this time, we have grown, we have evolved, and amicably decided to part ways. I’m very satisfied with the outcome and confident in the future of 1501."

"Thank you to all of the supporters of both Megan and 1501 Certified," he added. "May this moment be a valuable lesson on the importance of reconciliation for the prosperity of hip-hop and pop culture. I’m honored to have worked with Megan and be a part of her discovery as an artist. I wish Megan all the best in all of her future endeavors."

Earlier in October, Megan said she was not looking to sign with a new record label anytime soon.

“I’m so excited to be doing something for the first time independent, since it was just me and my mama," she said. "So excited cause it’s really just me this go 'round until we sign to a new label, but I don’t wanna sign to a new label right now because I just wanna do it myself."

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