Win-Light Global Acquires an Additional 1,479,890 ConnectM Shares, Boosting Buy-Out Group's Holdings to 24.5% of Shares Outstanding

Rhea-AI Summary

ConnectM Technology Solutions (NASDAQ: CNTM) announced that Win-Light Global has acquired an additional 1,479,890 shares of the company's common stock. This acquisition increases the Buy-Out Group's total holdings to 9,490,496 shares, representing 24.5% of shares outstanding.

The Buy-Out Group, consisting of Win-Light Global, SriSid , and Arumilli , previously initiated a buy-out offer on March 31, 2025, proposing to acquire all remaining outstanding shares at $1.60 per share. Based on ConnectM's current 38.76 million shares outstanding, the proposed transaction values the company at approximately $62 million.

The ConnectM Board of Directors is evaluating the buyout proposal with financial advisor ThinkEquity to ensure the best outcome for all stockholders.

Positive

• Buy-Out Group increased stake by 18.5% to 24.5% ownership, showing strong commitment to the acquisition
• Clear valuation established at $62 million with $1.60 per share cash offer
• Professional financial advisor ThinkEquity engaged to evaluate the offer

Negative

• Proposed buyout price of $1.60 per share may undervalue the company
• Increased control by Buy-Out Group could limit other potential bidders

MARLBOROUGH, Mass., April 15, 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 Win-Light Global Co. Ltd. ("Win-Light"), one of ConnectM's largest stockholders and a member of the investor group that initiated a buy-out offer on March 31, 2025 (the "Buy-Out Group"), has acquired an additional 1,479,890 shares of the Company's common stock.

Following this latest acquisition, the Buy-Out Group comprising Win-Light, SriSid LLC, and Arumilli LLC now collectively holds 9,490,496 shares of ConnectM. This represents an 18.5% increase from the 8,010,496 shares disclosed in the Buy-Out Group's initial offer letter dated March 31, 2025.

The increased ownership further supports the Buy-Out Group's previously announced proposal to acquire all remaining outstanding shares of ConnectM at a cash price of $1.60 per share. As disclosed in prior communications, based on the Company's current shares outstanding of 38.76 million, the proposed transaction implies a total equity value of approximately $62 million.

The ConnectM Board of Directors continues to evaluate the buyout proposal with the assistance of its financial advisor, ThinkEquity, and remains focused on ensuring the best possible outcome for all stockholders.

About ConnectM Technology Solutions, Inc.

ConnectM is a constellation of companies powering next generation equipment, mobility and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company delivers an advanced, proprietary Energy Intelligence Network platform designed to empower residential and commercial service providers and original equipment manufacturers, to optimize energy efficiency, enhance operational performance, and support sustainable innovation. 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

What is the total value of ConnectM's buyout offer?

The buyout offer values ConnectM (CNTM) at approximately $62 million, based on the proposed price of $1.60 per share and 38.76 million shares outstanding.

How many shares did Win-Light Global recently acquire in ConnectM (CNTM)?

Win-Light Global acquired an additional 1,479,890 shares of ConnectM (CNTM), increasing the Buy-Out Group's total holdings to 9,490,496 shares.

What is the per-share price offered in the CNTM buyout proposal?

The Buy-Out Group is offering $1.60 per share in cash for all remaining outstanding shares of ConnectM (CNTM).

Who are the members of the ConnectM (CNTM) Buy-Out Group?

The Buy-Out Group consists of Win-Light Global Co. , SriSid , and Arumilli

What percentage of ConnectM (CNTM) does the Buy-Out Group now own?

Following the recent acquisition, the Buy-Out Group now holds 24.5% of ConnectM's outstanding shares.