ConnectM Board to Evaluate $46.5 Million Buy-Out Offer
ConnectM Technology Solutions (Nasdaq: CNTM) has received a non-binding buyout proposal from its three largest institutional investors—SriSid , Arumilli , and Win-Light Global Co. The offer values the company at $1.60 per share in cash, implying a $46.5 million equity valuation.
The proposal aims to acquire all remaining outstanding shares and transition ConnectM into a privately held entity. The company's Board of Directors and management team are actively reviewing the proposal and seeking guidance from an investment banking firm. The proposed privatization transaction remains subject to due diligence, definitive agreements, and regulatory approvals.
ConnectM Technology Solutions (Nasdaq: CNTM) ha ricevuto una proposta di acquisto non vincolante dai suoi tre maggiori investitori istituzionali—SriSid, Arumilli e Win-Light Global Co. L'offerta valuta l'azienda a $1.60 per azione in contanti, implicando una valutazione patrimoniale di $46.5 milioni.
La proposta mira ad acquisire tutte le azioni rimanenti e a trasformare ConnectM in un'entità privata. Il Consiglio di Amministrazione e il team di gestione dell'azienda stanno attivamente esaminando la proposta e cercando consulenza da una banca d'investimento. La transazione di privatizzazione proposta è soggetta a due diligence, accordi definitivi e approvazioni normative.
ConnectM Technology Solutions (Nasdaq: CNTM) ha recibido una propuesta de compra no vinculante de sus tres mayores inversores institucionales—SriSid, Arumilli y Win-Light Global Co. La oferta valora la empresa en $1.60 por acción en efectivo, lo que implica una valoración de capital de $46.5 millones.
La propuesta tiene como objetivo adquirir todas las acciones restantes y convertir a ConnectM en una entidad privada. La Junta Directiva y el equipo de gestión de la empresa están revisando activamente la propuesta y buscando asesoramiento de una firma de banca de inversión. La transacción de privatización propuesta está sujeta a la debida diligencia, acuerdos definitivos y aprobaciones regulatorias.
ConnectM Technology Solutions (Nasdaq: CNTM)는 세 명의 주요 기관 투자자—SriSid, Arumilli, Win-Light Global Co.로부터 비구속 매수 제안을 받았습니다. 이 제안은 회사를 주당 $1.60에 현금으로 평가하며, $46.5 백만의 자본 평가를 의미합니다.
이 제안은 남아 있는 모든 주식을 인수하고 ConnectM을 비상장 회사로 전환하는 것을 목표로 하고 있습니다. 회사의 이사회와 경영진은 제안을 적극적으로 검토하고 있으며 투자은행으로부터 조언을 구하고 있습니다. 제안된 사모 거래는 실사, 최종 계약 및 규제 승인을 조건으로 합니다.
ConnectM Technology Solutions (Nasdaq: CNTM) a reçu une proposition d'achat non contraignante de ses trois plus grands investisseurs institutionnels—SriSid, Arumilli et Win-Light Global Co. L'offre valorise l'entreprise à 1,60 $ par action en espèces, impliquant une valorisation de l'équité de 46,5 millions de dollars.
La proposition vise à acquérir toutes les actions restantes et à transformer ConnectM en une entité privée. Le conseil d'administration et l'équipe de direction de l'entreprise examinent activement la proposition et recherchent des conseils auprès d'une banque d'investissement. La transaction de privatisation proposée est soumise à une due diligence, à des accords définitifs et à des approbations réglementaires.
ConnectM Technology Solutions (Nasdaq: CNTM) hat ein nicht bindendes Übernahmeangebot von seinen drei größten institutionellen Investoren—SriSid, Arumilli und Win-Light Global Co. erhalten. Das Angebot bewertet das Unternehmen mit $1.60 pro Aktie in bar, was einer Eigenkapitalbewertung von $46.5 Millionen entspricht.
Das Angebot zielt darauf ab, alle verbleibenden ausstehenden Aktien zu erwerben und ConnectM in ein privat gehaltenes Unternehmen zu überführen. Der Vorstand und das Management des Unternehmens prüfen aktiv das Angebot und suchen Rat bei einer Investmentbank. Die vorgeschlagene Privatisierungstransaktion unterliegt der Due Diligence, endgültigen Vereinbarungen und regulatorischen Genehmigungen.
- Clear valuation benchmark set at $1.60 per share
- Interest from major institutional investors signals confidence in company value
- Professional evaluation process with investment banking guidance ensures shareholder interest protection
- Non-binding nature of the proposal creates uncertainty
- Potential loss of public trading status and reduced liquidity for shareholders
- Multiple conditions and approvals required before deal completion
The ConnectM Board of Directors and management team are actively reviewing this proposal and have initiated a search for a leading investment banking firm to provide expert guidance in evaluating this buy-out offer. ConnectM ensures a thorough assessment of this offer as regards its alignment with the Company's long-term objectives and the best interests of all Company stockholders.
The proposed transaction, if accepted, would result in the privatization of ConnectM and is subject to the completion of customary due diligence, definitive agreements, and regulatory approvals.
About ConnectM Technology Solutions, Inc.
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. 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
View original content to download multimedia:https://www.prnewswire.com/news-releases/connectm-board-to-evaluate-46-5-million-buy-out-offer-302419664.html
SOURCE ConnectM Technology Solutions, Inc.
FAQ
What is the buyout offer price per share for ConnectM (CNTM) stock?
Who made the buyout offer for ConnectM (CNTM)?
What is the total equity valuation of ConnectM (CNTM) in the buyout offer?
What steps is ConnectM (CNTM) taking to evaluate the buyout offer?
What conditions need to be met for the ConnectM (CNTM) buyout to proceed?
