ConnectM shareholder Win-Light purchases almost 1.5M additional shares

ConnectM (CNTM) announced that Win-Light Global, one of ConnectM’s largest stockholders and a member of the investor group that initiated a buy-out offer on March 31, 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, and Arumilli 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. 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. The proposed transaction implies a total equity value of approximately $62M. The ConnectM Board of Directors continues to evaluate the buyout proposal with the assistance of its financial advisor.