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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.
Posted In: CNTM
