Cheetah Net to Acquire TW & EW
DENVER, Colo., Dec 03, 2024 (247marketnews.com)- Cheetah Net (NASDAQ: CTNT) executed definitive agreements to acquire TW & EW Services, a labor and logistics service provider based in California, which is expected to provide additional service opportunities and strengthen its position as a comprehensive supply chain solutions provider.
The deal is expected to close tomorrow and includes a $200,000 cash payment and $800,000 in unregistered Class A common stock, at a $1.704 per-share price.
Tony Liu, Cheetah Net’s Chairman and CEO, stated, “With 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.”
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