ConnectM Successfully Eliminates $7.5 Million in Debt, Reaching Halfway Mark in Debt-To-Equity Conversion
ConnectM Technology Solutions, Inc. (CNTM)
NASDAQ:AMEX Investor Relations:
mineralstechnologiesinc.gcs-web.com/corporate-profile
Company Research
Source: GlobeNewswire
~ Conversion Reduces Annual Interest Expense by $1.8 Million Transferring to Free Cash Flow of Equal Value ~ MARLBOROUGH, Mass., Sept. 17, 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 more than half of its initial tranche of a debt-to-equity swap by converting $7.5 million of the Company’s outstanding debt to common equity at $2.00 per share. This action begins a series of balance sheet deleveragings as ConnectM seeks to maximize value for shareholders. Today’s transaction executes on the previously announced approval from the Company’s Board of Directors to convert up to $15 million of the Company’s outstanding debt to common equity at $2.00 per share. About ConnectM Technology Solutions, Inc. ConnectM is at the forefront of advancing the electrification economy, integrating electrified energy assets with its AI
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CNTM
News
- ConnectM Prepares to Deleverage Balance Sheet with Board’s Approval of Debt-to-Equity ConversionGlobeNewswire
- ConnectM Publishes New Investor MaterialsGlobeNewswire
- ConnectM Ranks No. 104 on the Inc. 5000GlobeNewswire
- ConnectM Publishes Impact Scorecard for the Six Months Ended June 30, 2024GlobeNewswire
- ConnectM Announces Agreement to Acquire a Controlling Interest in DeliveryCircleGlobeNewswire
CNTM
Sec Filings
- 9/17/24 - Form 8-K
- 9/12/24 - Form 4
- 9/12/24 - Form 4
- CNTM's page on the SEC website