Cheetah Net Shares Nearly Triple on TW & EW Services Acquisition

Dow Jones

Dec 03, 2024

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)

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Shares of the logistics and warehousing services provider had hit their 52-week low of $1.70 on Nov. 20. \n\n\n  The acquisition is expected to close by Wednesday. \n\n\n  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. \n\n\n  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. \n\n\n  Following the closing, TW & EW will become a wholly owned subsidiary of Cheetah. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 03, 2024 06:49 ET (11:49 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}