**Cheetah Net Supply Chain Service Inc. Enters into Agreement to Acquire TW & EW Services Inc.**

On November 27, 2024, Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT) disclosed a significant move in an 8-K filing with the Securities and Exchange Commission. The North Carolina-based corporation has inked a stock purchase agreement with TW & EW Services Inc., a California corporation, and three Chinese individuals – Jiancheng Li, Weishu Guo, and Jianhui Li, referred to as the “Sellers.”

The agreement entails Cheetah Net acquiring 100% equity in TW & EW Services Inc., with the consideration for the acquisition structured as a cash payment of $200,000 and the issuance of Cheetah’s Class A common stock valued at $800,000. The per-share price of the stock is noted at $1.704, with the cash payment slated for disbursement on or before December 4, 2024, and the shares scheduled for issuance on or before December 20, 2024.

It is important to note that the stock issuance is part of a private transaction and not registered under the Securities Act of 1933. Cheetah Net is leveraging the exemption provided by Regulation S under the Act, which applies to offerings conducted outside the United States. Upon the completion of the acquisition, TW & EW Services Inc. will become a wholly-owned subsidiary of Cheetah Net, with the agreement encompassing customary covenants, closing conditions, and other obligations and rights of the involved parties.

Following this development, on December 2, 2024, Cheetah Net issued a press release announcing the agreement, signaling its intentions as it moves forward with the acquisition. The press release extends further insights into the Acquisition, detailing the cash payment and the share consideration structure. Expectations are high for Cheetah Net’s strengthened position in the logistics sector with TW & EW Services Inc. becoming a crucial component of its comprehensive supply chain solutions offerings.

As the company maneuvers through this acquisition, it is evident that Cheetah Net is strategically positioning itself to capitalize on emerging opportunities and drive value to its stakeholders. With a forward-looking stance, Cheetah Net aims to enhance its service portfolio and expand its market presence, outlining a path towards continued growth and evolution amidst evolving market dynamics.

For further details or clarifications, investors can reach out to Cheetah Net Supply Chain Service Inc.’s Investor Relations department at (949) 418-7804 or via email at [email protected].

This news release is brought to you following a detailed analysis of Cheetah Net Supply Chain Service Inc.’s 8-K filing with the Securities and Exchange Commission. For more information on this subject, please refer to the company’s official filings and disclosures.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cheetah Net Supply Chain Service’s 8K filing here.

About Cheetah Net Supply Chain Service

Cheetah Net Supply Chain Service Inc, together with its subsidiaries, supplies parallel-import vehicles in the United States, the People's Republic of China, and internationally. It purchases and resell branded automobiles under the Mercedes, Lexus, Range Rover, RAM and Toyota brands. The company was formerly known as Yuan Qiu Business Group LLC and changed its name to Cheetah Net Supply Chain Service Inc in March 2022.