Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares are trending on Tuesday.
CTNT surged 71.04% to $3.11 in the after-hours session on Monday after the company disclosed the completion of an acquisition of Super International Trading Limited, a Hong Kong-based firm specializing in large-scale industrial equipment trading.
$4.98 Million Cash Deal
According to a Securities and Exchange Commission filing, CTNT finalized its purchase of Super International on May 27. Super is now a wholly owned subsidiary following the close of a share transfer agreement signed Apr. 16 with seller Leyan Yang, a non-U.S. individual.
Cheetah Net agreed to pay approximately $4.98 million in cash for the acquisition.
