ConnectM Technology Solutions, Inc.(CNTM)

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ConnectM Technology Solutions, Inc.(CNTM) - 2024 Q4 - Annual Report
2025-08-04 15:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-41389 ConnectM Technology Solutions, Inc. accounting firm that prepared or issued its audit report. ☐ If securities are registered pu ...
ConnectM Provides Update to Stockholders on Buyout Group's Offer
GlobeNewswire News Room· 2025-06-02 16:30
MARLBOROUGH, Mass., June 02, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (OTC: CNTM) (“ConnectM” or the “Company”), a high-growth technology company on the leading edge of the modern energy economy, today issued an update to its stockholders regarding the recent buyout offer by a group of longstanding stockholders. ConnectM received a letter from Optimax Solutions Inc., on behalf of SriSid LLC, Arumilli LLC, and Win-Light Global Co Ltd (collectively, the “Buyout Group”), informing the Compa ...
ConnectM Completes Acquisition of Cambridge Energy Resources, Strengthening Foothold in India
Globenewswire· 2025-05-15 15:30
Core Insights - ConnectM Technology Solutions, Inc. has completed the acquisition of Cambridge Energy Resources Ltd. (CER), enhancing its service offerings in India's distributed energy and telecom sectors, which are experiencing rapid growth [1][2][4] Company Overview - ConnectM is a technology company focused on the energy economy, providing solutions that enable a transition to a modern energy system [6] - CER specializes in Energy-Management-as-a-Service (EMaaS) and offers integrated clean energy solutions, particularly for telecommunications infrastructure [7][8] Acquisition Details - The acquisition of CER was completed after securing regulatory approval, with ConnectM winning the bid in 2021 for INR 120 million ($1.4 million), while the fair value assessment of CER is INR 240 million ($2.8 million) [2][4] - The acquisition is expected to significantly contribute to ConnectM's growth, with projections indicating that revenue from India could increase from 5% to 15% of global revenue within the next twelve months, equating to an annualized $10 million [4] Strategic Importance - This acquisition positions ConnectM to leverage CER's local expertise to deploy its proprietary Home and Building Electrification (HBE) platform and Energy Intelligence Network (EIN) in India [3][4] - The move aligns with India's ambitious goals of achieving 500 GW of non-fossil fuel power capacity by 2030, supported by substantial investments in the power sector [4] Market Context - India's distributed energy and telecommunications sectors are among the fastest-growing markets globally, driven by the demand for renewable energy solutions and energy-efficient infrastructure [2][4] - The acquisition follows ConnectM's announcement of its first HBE project in India, marking a significant step in its international expansion strategy [5]
ConnectM Stockholder Update - Path Forward & Strategic Milestones
Prnewswire· 2025-05-13 18:34
MARLBOROUGH, Mass., May 13, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (OTC: CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the energy economy, today issued the following letter to shareholders:Dear ConnectM Stockholders,I want to thank you for your continued support and engagement as we navigate a pivotal chapter in our company's evolution.While we are disappointed by Nasdaq's sudden decision to suspend our trading, our vision, trajectory, and com ...
ConnectM Provides Update from CEO
Prnewswire· 2025-05-10 00:39
Core Viewpoint - ConnectM Technology Solutions, Inc. is focused on regaining compliance and plans to re-list on Nasdaq, emphasizing that its fundamentals and growth prospects remain strong despite recent challenges [1][2]. Company Operations - The company has several appealing options for capital raising, both organic and inorganic, which management will evaluate in the best interest of stockholders [2]. - ConnectM has down-listed to the OTC Pink Open Market to provide immediate liquidity to stockholders, with trading available through major brokerage accounts [3]. Financial Reporting - The company is prioritizing the filing of its Annual Report on Form 10-K for the year ended December 31, 2024, followed by the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 [4]. - The complexity of financial reports has increased significantly, with the team spending 10 times more hours compiling them since 2023, leading to delays [4]. Compliance and Uplisting Plans - Management is evaluating options to uplist from OTC Pink to a higher OTC exchange tier, which requires current reporting status and enhances credibility and investor confidence [5]. - In conjunction with the capital raise process, the company is considering an IPO or uplisting back to Nasdaq or NYSE as soon as possible [6]. Company Vision - ConnectM aims to power the next generation of electrified equipment and mobility, facilitating a transition to a modern energy economy while leveraging technology and data to lower energy costs and reduce carbon emissions globally [7][8].
ConnectM Issues Letter to Stockholders
Prnewswire· 2025-05-08 18:42
MARLBOROUGH, Mass., May 8, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (OTC: CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the energy economy, today issued the following letter to shareholders:Dear ConnectM Community, As you may have noticed, Nasdaq suspended trading of our stock this morning. With the guidance of the nation's top Nasdaq Advisory consultant, we had a meeting with the Hearings Panel two weeks ago to discuss our plan to regain compli ...
ConnectM Provides Update on $1.60 per Share Buy-Out Offer
Prnewswire· 2025-04-29 12:00
Buy-Out Group now owns approximately 16.1 million shares of ConnectM common stock, representing approximately 31.4% of the Company's outstanding shares MARLBOROUGH, Mass., April 29, 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 an update regarding the ownership positions of the investor group (the "Buy-Out Group") that submitted a non-binding proposal on March ...
SRISID LLC Increases Position to 7.55M Shares of ConnectM, Representing 15.1% of the Company's Outstanding Common Stock
Prnewswire· 2025-04-22 15:20
MARLBOROUGH, Mass., April 22, 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 SRISID LLC, an institutional investor, has filed an additional Schedule 13G with the Securities and Exchange Commission, disclosing ownership of 7,553,664 shares, or approximately 15.1% of ConnectM's outstanding common stock.A Schedule 13G filing indicates a significant passive inv ...
ConnectM Retires Additional $9M Debt in April, Reducing Annual Interest Expense by 90%
Prnewswire· 2025-04-17 12:00
MARLBOROUGH, Mass., April 17, 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 the Company has retired an additional $9 million of debt since March 31, 2025. Since going public on July 15, 2024, ConnectM has eliminated $40 million in liabilities, bringing total outstanding debt to less than $8.0 million. Outlook The Company expects to be in a positive stockho ...
ConnectM Retains ThinkEquity as Financial Advisor to Support Evaluation of $46.5M Stockholder Buy-Out Offer
Prnewswire· 2025-04-09 12:00
The Board and management team remain committed to a thorough and objective evaluation of the Buy-Out Offer and any strategic alternatives that may better serve the interests of all stockholders. MARLBOROUGH, Mass., April 9, 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 the appointment of ThinkEquity, a boutique investment bank specializing in capital markets an ...