Cheetah Net to acquire JoyPak for $788K cash
Cheetah Net Supply Chain Service Inc. plans a $788,000 cash acquisition of JoyPak Supply LLC to expand into consumer, beauty and personal care product categories.
Rhea-AI Filing Summary
Cheetah Net Supply Chain Service Inc. (CTNT) agreed to acquire 100% of the membership interests of JoyPak Supply LLC for $788,000 in cash under a Membership Interest Purchase Agreement dated September 15, 2026. The price consists of an $88,000 initial payment within two business days of signing and $700,000 within two business days after closing.
The initial payment is only a partial purchase price and does not transfer ownership; all JoyPak membership interests will transfer at closing. Closing is to occur within four weeks of September 15, 2026 and is expected on or about October 15, 2026, subject to due diligence and other closing conditions. If the agreement is terminated other than due to Cheetah’s breach, the sellers must return the initial payment to Cheetah.
JoyPak, a Nevada company focused on consumer, beauty, personal care and other everyday-use products, will become a wholly owned subsidiary after completion. Cheetah states that this acquisition is expected to diversify its product mix, add new consumer categories, and support its broader business diversification and long-term growth strategy.
Positive
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Filing Explained
The agreed acquisition carries a
8-K Event Classification
Key Figures
Key Terms
Membership Interest Purchase Agreement financial
wholly owned subsidiary financial
Regulation FD Disclosure regulatory
emerging growth company regulatory
forward-looking statements regulatory
Risk Factors regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What acquisition did CTNT announce on September 15, 2026?
What is the purchase price for Cheetah Net (CTNT) to acquire JoyPak?
When is the JoyPak acquisition by CTNT expected to close?
What business does JoyPak Supply LLC operate in before the CTNT acquisition?
How does CTNT describe the strategic rationale for acquiring JoyPak?
What happens to the initial payment if the JoyPak deal is terminated?
AI-generated analysis. How Rhea-AI works. Not financial advice.
United States
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 1.01 Entry into a Material Definitive Agreement.
On September 15, 2026, Cheetah Net Supply Chain Service Inc. (the “Company”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Newland Asset Management LLC, a Delaware limited liability company (“Newland”), Redwing Capital LLC, a Texas limited liability company (“Redwing,” and together with Newland, the “Sellers”), and JoyPak Supply LLC, a Nevada limited liability company primarily engaged in the sale of consumer, beauty, personal care and other everyday-use products (“JoyPak”). Pursuant to the Purchase Agreement, the Company agreed to purchase and acquire from the Sellers all of the issued and outstanding membership interests of JoyPak (the “Membership Interests”) (the “Acquisition”).
The aggregate purchase price for the Membership Interests is $788,000, consisting of an initial payment of $88,000 payable within two business days following the date of the Purchase Agreement (the “Initial Payment”) and a payment of $700,000 payable within two business days following the closing of the Acquisition (the “Closing”). The Initial Payment constitutes a partial payment of the purchase price only and does not result in the transfer of any Membership Interests. All of the Membership Interests will be transferred to the Company at the Closing. The Closing is to occur no later than four weeks after the date of the Purchase Agreement and is expected to occur on or about October 15, 2026, subject to the satisfaction or waiver of the applicable closing conditions. Upon consummation of the Closing, JoyPak will become a wholly owned subsidiary of the Company.
The Purchase Agreement contains customary representations and warranties, covenants, indemnification provisions and termination rights. The termination rights include, among other things, termination in the event of certain material breaches, a final, non-appealable governmental order prohibiting the Acquisition, or the failure of the Closing to occur within four weeks after the date of the Purchase Agreement. The Company also has the right to terminate the Purchase Agreement in certain circumstances arising from its due diligence review or if it reasonably determines that certain material closing conditions or deliverables are unlikely to be satisfied. Upon any termination of the Purchase Agreement other than as a result of the Company’s breach, the Sellers are required to return the Initial Payment to the Company without deduction or setoff.
The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On September 15, 2026, the Company issued a press release announcing its entry into the Purchase Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Exhibit | |
| 10.1 | Membership Interest Purchase Agreement, dated as of September 15, 2026, by and among Cheetah Net Supply Chain Service Inc., Newland Asset Management LLC, Redwing Capital LLC and JoyPak Supply LLC | |
| 99.1 | Press Release dated September 15, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 15, 2026
| Cheetah Net Supply Chain Service Inc. | ||
| By: | /s/ Huan Liu | |
| Huan Liu | ||
| Chief Executive Officer, Director, and Chairman of the Board of Directors | ||
Exhibit 99.1
Cheetah Net Supply Chain Service Inc. Enters into Agreement to Acquire JoyPak Supply LLC
Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT) today announced that it has entered into a Membership Interest Purchase Agreement (the “Agreement”) to acquire 100% of the membership interests of JoyPak Supply LLC (“JoyPak”), a Nevada limited liability company, primarily engaged in the sale of consumer, beauty, personal care and other everyday-use products, from a Delaware limited liability company and a Texas limited liability company (collectively, the “Sellers”) (the “Acquisition”).
The aggregate purchase price for the Acquisition is $788,000, which will be paid in cash. The closing of the Acquisition is expected to occur within four weeks of the execution of the Agreement, subject to the completion of the Company’s due diligence review and other closing conditions.
Following the completion of the Acquisition, JoyPak will become a wholly owned subsidiary of the Company. The Company believes that the Acquisition will further diversify its product mix, and enable the Company to enter the consumer, beauty, personal care and other everyday-use product categories. The Acquisition is also expected to support the Company’s broader business diversification efforts and long-term growth strategy.
About Cheetah Net Supply Chain Service Inc.
Cheetah Net Supply Chain Service Inc. is engaged in two principal business areas: logistics and warehousing and international trading. The Company’s logistics and warehousing business includes logistics coordination, warehousing and general labor support services. Following its acquisition of Super International Trading Limited in May 2026, the Company also commenced the international trading of large-scale industrial equipment. Through its ongoing business development and strategic acquisitions, Cheetah continues to seek opportunities to diversify its operations, expand its product and service offerings and develop additional sources of revenue.
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 expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including under the caption “Risk Factors.”
For more information, please contact:
Cheetah Net Supply Chain Service Inc.
