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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

Author: Benzinga Newsdesk | January 30, 2024 09:48am

The total Acquisition cost includes a cash payment of $300,000 and a share consideration involving the issuance of Cheetah's unregistered Class A common stock (the "Share Consideration"). The per-share price for the Share Consideration will be determined at 80% of the average closing price over the last ten business days preceding the execution of the Agreement, resulting in a market value of $1,200,000. Following the Acquisition, Cheetah will own 100% of Edward.

Posted In: CTNT


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