ConnectM provides update on turnaround, aims for National Exchange uplisting

ConnectM (CNTM) Technology Solutions provides an update on its capital markets turnaround since its Nasdaq delisting in May 2025 and announces that it has engaged ThinkEquity LLC as its investment bank to advise on an anticipated uplisting to a major U.S. exchange. Management believes investor appetite for companies enabling AI hyperscalers, battery power, energy storage and backup power solutions remains strong and that its Keen Labs subsidiary gives ConnectM focused exposure to these trends. Where we were After its de-SPAC combination in July 2024, ConnectM: Saw its stock fall from $10 to roughly $1 per share as more than 99% of SPAC shares were redeemed; Faced an initial stockholders’ deficit of approximately $50 million and a limited public float; Lost its Nasdaq listing and ultimately landed on the OTC Expert Market, with extremely limited liquidity. Where we told stockholders we were going In May 2025, management laid out an ambitious plan to: Regain current SEC reporting status; Move off the lower OTC tier and uplist to OTCQB as a step toward a major U.S. exchange; Grow revenue in electrification, logistics and AI-driven energy platforms; Reduce liabilities, simplify the balance sheet and raise growth capital. As of today, management has delivered on all key pillars of its plan. Near- and medium-term priorities include: Scaling revenue and margins across the Owned Service Network, Logistics and Keen Labs technology platforms. Continuing to reduce liabilities and raise growth capital on an opportunistic basis. Integrating recent acquisitions and pursuing targeted M&A in electrification, logistics and AI-driven energy infrastructure. Advancing Keen Labs’ battery, distributed energy and AI infrastructure initiatives, including ongoing discussions with leading AI hyperscalers and data center partners regarding potential collaborations and deployments. Working with ThinkEquity LLC to refine the Company’s capital markets strategy and prepare its governance, reporting and capital structure for a potential uplisting to a major U.S. exchange, subject to market conditions and applicable listing requirements.