ConnectM Technology Solutions, Inc. Announces Nasdaq Delisting Notification

Rhea-AI Summary

ConnectM Technology Solutions (Nasdaq: CNTM) has received a delisting notice from Nasdaq due to non-compliance with the $50,000,000 market value of listed securities (MVLS) requirement for continued listing on The Nasdaq Global Market.

The company was initially notified of this non-compliance on September 4, 2024, and was given 180 calendar days until March 3, 2025, to regain compliance. On March 7, 2025, Nasdaq informed ConnectM that it had not met the requirement.

Unless ConnectM appeals by March 14, 2025, its common stock trading will be suspended on March 18, 2025. The company has stated its intention to appeal the determination before the Nasdaq Hearings Panel, which will temporarily stay the suspension pending the Panel's decision.

Positive

• Company has the opportunity to appeal the delisting decision

Negative

• Failed to maintain $50 million market value requirement for Nasdaq listing
• Facing potential delisting from Nasdaq Global Market
• Unable to regain compliance within the 180-day grace period
• Risk of reduced stock liquidity and visibility if delisted

MARLBOROUGH, Mass., March 12, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the electrification economy, today announced that the Company received a delisting notice from The Nasdaq Stock Market LLC ("Nasdaq").

As previously disclosed in the Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on September 10, 2024 by the Company, on September 4, 2024, the Company received a notice from Nasdaq stating that the Company's listed securities failed to comply with the $50,000,000 market value of listed securities ("MVLS") requirement for continued listing on The Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(A) (the "Rule"). The Company was provided a period of 180 calendar days, or until March 3, 2025, in which to regain compliance.

On March 7, 2025, the Company received another notice from Nasdaq stating that the Company had not regained compliance with the Rule. Accordingly, its securities will be delisted from The Nasdaq Global Market. Unless the Company requests an appeal of the determination before the Nasdaq Hearings Panel (the "Panel") by March 14, 2025, trading of the Company's common stock will be suspended at the opening of business on March 18, 2025, and a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on Nasdaq.

The Company intends to timely request an appeal before the Panel. The hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision.

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

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SOURCE ConnectM Technology Solutions, Inc.

FAQ

Why is CNTM being delisted from Nasdaq?

CNTM is facing delisting because it failed to maintain the required $50 million market value of listed securities (MVLS) for continued listing on The Nasdaq Global Market.

When will CNTM stock be suspended from trading on Nasdaq?

If CNTM doesn't appeal by March 14, 2025, trading will be suspended on March 18, 2025. However, the company plans to appeal, which will stay the suspension temporarily.

What happens to CNTM shares if the company gets delisted?

If delisted, CNTM shares will be removed from Nasdaq listing and registration through a Form 25-NSE filing with the SEC.

Can CNTM prevent the Nasdaq delisting?

CNTM can appeal the decision before the Nasdaq Hearings Panel by March 14, 2025, which will temporarily stay the delisting pending the Panel's decision.