Business
Cheetah Net Supply Chain Service Inc. enters Agreement to Acquire Super International Trading Limited
IRVINE, Calif., April 16, 2026 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT) today announced that
About this update from Cheetah Net Supply Chain Service Inc.
[{"type":"text","content":"IRVINE, Calif., April 16, 2026 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT) today announced that it has entered into a Share Transfer Agreement (the “Agreement”) to acquire 100% of the equity interests of Super International Trading Limited (“Super International”), a limited liability company incorporated under the laws of Hong Kong, primarily engaged in the trading of large-scale industrial equipment, from a non-U.S. individual (the “Transferor”) (the “Acquisition”). The Company believes that Super International has an established presence in the industrial equipment trading sector, supported by supplier relationships and a diversified customer base, which may provide a solid foundation for continued growth and operational scalability. The aggregate purchase price for the Acquisition is approximately $4.98 million, which will be paid in cash. The closing of the Acquisition is expected to occur within three months of the execution of the Agreement, subject to customary closing conditions. The Agreement includes post-closing performance provisions, pursuant to which the Transferor has committed to Super International achieving a minimum of $10 million in annual revenue for the three years following closing of the Acquisition and has agreed to compensate the Company in cash for any shortfall thereof. The Company has agreed to provide additional cash or equivalent consideration to the Transferor for annual revenue exceeding the $10 million threshold over a five-year period following the closing of the Acquisition. Following the completion of the Acquisition, Super International will become a wholly owned subsidiary of the Company. The Company believes that the Acquisition will enhance its cross-border trading capabilities, expand its supply chain service offerings, and strengthen its ability to serve customers engaged in international commerce. The Acquisition is also expected to create strategic synergies with the Company’s existing logistics and cross-border trade infrastructure, further reinforcing its position as an integrated supply chain service provider. Forward-Looking Statements This press release contains certain forward-looking statements, including statements that are predictive in nature. Forward-looking statements are based on the Company’s current expectatio...