Cheetah Net signs LOI to acquire Edward Transit Express for $1.5M in cash and stock

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Total purchase price $1.5M: $300k cash + $1.2M in Cheetah Class A common stock (80% of 10-day VWAP).
Target Edward Transit Express is a California-based NVOCC providing ocean/air freight with weekly consolidation.
Closing expected early 2024, subject to due diligence, definitive agreement, and customary conditions.
CEO Tony Liu says acquisition supports Cheetah's evolution into a comprehensive international trade service provider.
No lock-up on shares issued to sellers; Purchaser assumes all existing liabilities of Target.

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