ConnectM provides update regarding buy-out offer

ConnectM (CNTM) Technology Solutions announced an update regarding the ownership positions of the investor group that submitted a non-binding proposal on March 31 to acquire all remaining outstanding shares of ConnectM at a cash price of $1.60 per share. Since the Buy-Out Group’s initial offer, its members – SriSid LLC, Arumilli LLC, and Win-Light Global- have each increased their individual holdings in ConnectM. Collectively, the Buy-Out Group now owns approximately 16,098,064 shares of ConnectM common stock, representing approximately 31.4% of the Company’s outstanding shares as of April 28. As previously disclosed, the ConnectM Board of Directors continues to thoroughly review and evaluate the proposal. There can be no assurance that any definitive offer will be made or accepted, or that any transaction will be consummated. ConnectM remains committed to acting in the best interests of all stockholders.