Cheetah Net Shares Nearly Triple on TW & EW Services Acquisition

Dow Jones
2024-12-03
 

By Chris Wack

 

Cheetah Net Supply Chain Service shares in premarket trading after the company agreed to buy TW & EW Services, a California-based labor and logistics service provider.

Shares of Cheetah almost tripled to $5.33 in premarket trading Tuesday. Shares of the logistics and warehousing services provider had hit their 52-week low of $1.70 on Nov. 20.

The acquisition is expected to close by Wednesday.

The Irvine, Calif., Cheetah said it expects TW & EW to provide additional service opportunities, and strengthen its position as a comprehensive supply chain technology provider.

The total cost of the acquisition includes a cash payment of $200,000 and a share consideration involving Cheetah's unregistered Class A shares, valued at $800,000.

Following the closing, TW & EW will become a wholly owned subsidiary of Cheetah.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

December 03, 2024 06:49 ET (11:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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