MARLBOROUGH, Mass., April 15,
2025 /PRNewswire/ -- ConnectM Technology
Solutions, Inc. (NASDAQ: CNTM) ("ConnectM" or the "Company"), a
high-growth technology company on the leading edge of the energy
economy, today announced that Win-Light Global Co. Ltd.
("Win-Light"), one of ConnectM's largest stockholders and a member
of the investor group that initiated a buy-out offer on
March 31, 2025 (the "Buy-Out Group"),
has acquired an additional 1,479,890 shares of the Company's common
stock.
Following this latest acquisition, the Buy-Out Group comprising
Win-Light, SriSid LLC, and Arumilli LLC now collectively holds
9,490,496 shares of ConnectM. This represents an 18.5% increase
from the 8,010,496 shares disclosed in the Buy-Out Group's initial
offer letter dated March 31,
2025.
The increased ownership further supports the Buy-Out Group's
previously announced proposal to acquire all remaining outstanding
shares of ConnectM at a cash price of $1.60 per share. As disclosed in prior
communications, based on the Company's current shares outstanding
of 38.76 million, the proposed transaction implies a total equity
value of approximately $62
million.
The ConnectM Board of Directors continues to evaluate the buyout
proposal with the assistance of its financial advisor, ThinkEquity,
and remains focused on ensuring the best possible outcome for all
stockholders.
About ConnectM Technology Solutions, Inc.
ConnectM is a constellation of companies powering next
generation equipment, mobility and distributed energy—thus enabling
a faster, smarter transition to a modern energy economy. The
Company delivers an advanced, proprietary Energy Intelligence
Network platform designed to empower residential and commercial
service providers and original equipment manufacturers, to optimize
energy efficiency, enhance operational performance, and support
sustainable innovation. Leveraging technology, data, artificial
intelligence, and behavioral economics, ConnectM aims to lower
energy costs and reduce carbon emissions globally.
For more information, please visit:
https://www.connectm.com/
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"). We have based these forward-looking
statements on our current expectations and projections about future
events. All statements, other than statements of present or
historical fact included in this press release, regarding our
future financial performance and our strategy, expansion plans,
future operations, future operating results, estimated revenues,
losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as "may,"
"should," "could," "would," "expect," "plan," "anticipate,"
"intend," "believe," "estimate," "continue," "project" or the
negative of such terms or other similar expressions. These
forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions about us that may cause our actual
results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by such
forward-looking statements. Except as otherwise required by
applicable law, we disclaim any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
of this press release. We caution you that the forward-looking
statements contained herein are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond our control. In addition, we caution you that the
forward-looking statements regarding the Company contained in this
press release are subject to the risks and uncertainties described
in the "Cautionary Note Regarding Forward-Looking Statements"
section of the Current Report on Form 8-K filed with the Securities
and Exchange Commission on July 18,
2024. Such filing identifies and addresses other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and ConnectM is under no obligation to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com
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SOURCE ConnectM Technology Solutions, Inc.
