Cheetah Net Supply Chain Service Inc. Signs Definitive Agreements to Acquire TW & EW
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) has signed definitive agreements to acquire TW & EW Services, a California-based labor and logistics service provider, for a total of $1 million. The deal comprises a $200,000 cash payment and $800,000 in unregistered Class A common stock at $1.704 per share. The acquisition is expected to close around December 4, 2024. TW & EW will become a wholly owned subsidiary of Cheetah, strengthening the company's position in the logistics sector by integrating TW & EW's expertise in general labor and logistics support services.
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) ha firmato accordi definitivi per acquisire TW & EW Services, un fornitore di servizi di lavoro e logistica con sede in California, per un importo totale di 1 milione di dollari. L'accordo comprende un e 800.000 dollari in azioni ordinarie di Classe A non registrate a 1.704 dollari per azione. Si prevede che l'acquisizione si chiuda intorno al 4 dicembre 2024. TW & EW diventerà una controllata interamente posseduta da Cheetah, rafforzando la posizione dell'azienda nel settore della logistica integrando l'esperienza di TW & EW nei servizi di supporto al lavoro e alla logistica.
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) ha firmado acuerdos definitivos para adquirir TW & EW Services, un proveedor de servicios laborales y logísticos con sede en California, por un total de 1 millón de dólares. El acuerdo incluye un pago en efectivo de 200,000 dólares y 800,000 dólares en acciones ordinarias de Clase A no registradas a 1.704 dólares por acción. Se espera que la adquisición se cierre alrededor del 4 de diciembre de 2024. TW & EW se convertirá en una subsidiaria de propiedad total de Cheetah, fortaleciendo la posición de la compañía en el sector logístico mediante la integración de la experiencia de TW & EW en servicios de apoyo laboral y logístico.
치타 넷 공급망 서비스 (Nasdaq CM: CTNT)는 캘리포니아에 본사를 둔 노동 및 물류 서비스 제공업체인 TW & EW 서비스를 100만 달러에 인수하는 최종 계약을 체결했습니다. 이 거래는 20만 달러의 현금 지급과 주당 1.704달러에 등록되지 않은 클래스 A 보통주 80만 달러를 포함합니다. 인수 거래는 2024년 12월 4일경에 완료될 것으로 예상됩니다. TW & EW는 치타의 완전 소유 자회사로 전환되어, 일반 노동 및 물류 지원 서비스에 대한 TW & EW의 전문성 통합을 통해 치타의 물류 부문에서의 입지를 강화할 것입니다.
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) a signé des accords définitifs pour acquérir TW & EW Services, un fournisseur de services de travail et de logistique basé en Californie, pour un montant total de 1 million de dollars. L'accord comprend un paiement en espèces de 200 000 dollars et 800 000 dollars en actions ordinaires de Classe A non enregistrées au prix de 1,704 dollars par action. La clôture de l'acquisition est prévue aux alentours du 4 décembre 2024. TW & EW deviendra une filiale à part entière de Cheetah, renforçant la position de l'entreprise dans le secteur logistique en intégrant l'expertise de TW & EW dans les services de support au travail et à la logistique.
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) hat definitive Vereinbarungen zur Übernahme von TW & EW Services, einem in Kalifornien ansässigen Anbieter von Arbeits- und Logistikdienstleistungen, für insgesamt 1 Million Dollar unterzeichnet. Das Geschäft umfasst eine Barzahlung von 200.000 Dollar und 800.000 Dollar in nicht registrierten Stammaktien der Klasse A zu einem Preis von 1,704 Dollar pro Aktie. Der Abschluss der Übernahme wird für etwa den 4. Dezember 2024 erwartet. TW & EW wird eine hundertprozentige Tochtergesellschaft von Cheetah und wird die Position des Unternehmens im Logistiksektor stärken, indem die Expertise von TW & EW in allgemeinen Arbeits- und Logistikunterstützungsdiensten integriert wird.
- Strategic acquisition valued at $1 million to expand logistics and labor service capabilities
- Minimal cash outlay of $200,000, with majority of payment in stock
- Integration expected to create additional service opportunities and value
- Potential shareholder dilution due to $800,000 in new share issuance
Insights
This
TW & EW's integration into Cheetah's operations should enhance service capabilities and create operational synergies in the logistics sector. However, the relatively small deal size compared to Cheetah's
IRVINE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT) today announced that it has executed definitive agreements (the “Agreements”) for the acquisition (the “Acquisition”) of TW & EW Services Inc, a California-based labor and logistics service provider (“TW & EW”). The Acquisition is expected to close on or about December 4, 2024. With TW & EW’s integration, Cheetah expects to capitalize on additional service opportunities, and strengthen its position as a comprehensive supply chain solutions provider.
The total cost of the Acquisition includes a cash payment of
Tony Liu, Chairman and CEO, commented, “[w]ith the Agreements now executed, we look forward to closing the Acquisition and to integrating TW & EW’s operations into Cheetah as soon as possible. This move strengthens our position in the logistics sector by incorporating TW & EW’s expertise in general labor and logistics support services, enabling us to streamline operations and create additional value for our stakeholders. With this acquisition, we look forward to delivering enhanced services to both current and future customers.”
About Cheetah Net Supply Chain Service Inc.
Cheetah Net is a provider of logistics and warehousing services, historically associated with the sale of parallel-import vehicles sourced in the U.S. to the PRC market and now focused on transporting a broader range of goods between the U.S. and the People’s Republic of China. Established in 2016 as a dealer of luxury parallel-import vehicles, Cheetah has transitioned toward non-vehicle trade and logistics services in response to market challenges. In February 2024, Cheetah expanded its footprint in the logistics and warehousing industry. Cheetah remains committed to adapting to evolving market conditions and delivering value to its stakeholders through strategic realignment and service expansion.
Forward-Looking Statements
This press release contains certain forward-looking statements, including statements that are predictive in nature. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form S-1, as amended, under the caption “Risk Factors.”
For more information, please contact:
Cheetah Net Supply Chain Service Inc.
Investor Relations
(949) 418-7804
ir@cheetah-net.com
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