ConnectM Eliminates $13.7 Million Debt
ConnectM Technology Solutions, Inc. (CNTM)
NASDAQ:AMEX Investor Relations:
mineralstechnologiesinc.gcs-web.com/corporate-profile
Company Research
Source: GlobeNewswire
~ Completed Conversions of $6.2 Million Debt-to-Equity in Second Tranche ~ MARLBOROUGH, Mass., Sept. 26, 2024 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today announced the Company has completed its second tranche of a debt-to-equity swap by converting an additional $6.2 million of the Company’s outstanding debt to common equity at $2.00 per share, bringing the current total to $13.7 million. This debt-to-equity swap is part of a series of actions to deleverage the balance sheet. With the total conversions the Company has: achieved 90% of $15 million target within 30 days of the Board approved plan;prioritized balance sheet optimization in immediate action following public listing;deleveraged its balance sheet, removing $13.7 million in debt;reduced annual interest expense by more than $2 million, thereby increasing Free Cash Flow to invest in operations to grow
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News
- ConnectM Releases Preliminary Third Quarter 2024 Results & Details Significant Operational Progress [Yahoo! Finance]Yahoo! Finance
- ConnectM Releases Preliminary Third Quarter 2024 Results & Details Significant Operational ProgressGlobeNewswire
- ConnectM to Participate in the 13th Annual Roth Technology ConferenceGlobeNewswire
- ConnectM Launches Intelligent AI-Driven Heat Pump Following AHRI Cold Climate CertificationGlobeNewswire
- ConnectM Publishes Impact Scorecard for the Three Months Ended September 30, 2024Accesswire
CNTM
Sec Filings
- 11/19/24 - Form DEFA14A
- 11/19/24 - Form 8-K
- 11/15/24 - Form NT
- CNTM's page on the SEC website