Cheetah Net Supply Chain Service Signs Definitive Agreement To Acquire Edward Transit Express Group; Cash Payment Of $300,000 And Share Consideration Of Cheetah's Unregistered Class A Common Stock; Price Per Share 80% Of Average Closing Price
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Cheetah Net Supply Chain Service has entered into a definitive agreement to acquire Edward Transit Express Group. The deal includes a $300,000 cash payment and shares of Cheetah's unregistered Class A common stock. The stock price for the deal is set at 80% of the average closing price over the last ten business days before the agreement. The total market value of the share consideration is $1,200,000, which will result in Cheetah owning 100% of Edward following the acquisition.
January 30, 2024 | 1:48 pm
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Cheetah Net Supply Chain Service (CTNT) has signed an agreement to acquire Edward Transit Express Group, involving a cash payment and share issuance at a discounted price.
The acquisition of Edward Transit Express Group by Cheetah Net Supply Chain Service is likely to be viewed positively by investors as it indicates growth and expansion. The share consideration at a discounted price may also be seen as a confident move by the company, potentially leading to a short-term increase in CTNT's stock price.
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