ConnectM confirms $62M increased implied EV with buy-out group

ConnectM (CNTM) Technology Solutions announced further communications with the investor group that initiated a buy-out offer on March 31. As announced on April 3, the buy-out offer contemplates the acquisition of all outstanding shares of ConnectM at a cash price of $1.60 per share. At the time of the offer, the Buy-Out Group had referenced the company’s shares outstanding as of December 31, 2024, which implied an equity value of approximately $46.5M. ConnectM has since informed the Buy-Out Group that its current shares outstanding total 38,760,828, implying a total equity value of approximately $62.02M. Upon receiving this information, the Buy-Out Group confirmed its intention to proceed with the $1.60 per share price for the remaining issued and outstanding publicly held common shares of ConnectM. The Board and management team have retained ThinkEquity, a boutique investment bank specializing in capital markets and M&A advisory, to serve as its non-exclusive financial advisor and remain committed to a thorough and objective evaluation of the Buy-Out Offer and any strategic alternatives that may better serve the interests of all stockholders.