Cheetah Net Supply Chain Service Inc. Signs Definitive Agreements to Acquire TW & EW

Acquisition Announcement - Cheetah Net Supply Chain Service Inc. has executed definitive agreements for the acquisition of TW & EW Services Inc., a California-based labor and logistics service provider, expected to close on or about December 4, 2024 [1][2] - The total cost of the acquisition includes a cash payment of $200,000 and share consideration valued at $800,000, with a per-share price of $1.704 [2] Strategic Implications - The acquisition is anticipated to strengthen Cheetah's position in the logistics sector by integrating TW & EW's expertise in general labor and logistics support services, which will streamline operations and create additional value for stakeholders [3] - Cheetah aims to capitalize on additional service opportunities and enhance service delivery to both current and future customers following the integration of TW & EW [3] Company Background - Cheetah Net is a provider of logistics and warehousing services, originally focused on the sale of parallel-import vehicles to the PRC market, and has transitioned towards broader logistics services in response to market challenges [4] - Established in 2016, Cheetah expanded its footprint in the logistics and warehousing industry in February 2024, demonstrating a commitment to adapting to evolving market conditions [4]