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ConnectM Approved A Debt Equity Swap To Deleverage The Balance Sheet, Converting Up To $15M Of The Co's Outstanding Debt To Common Equity At $2.00 Per Share

Benzinga ·  Aug 28 20:34

Opens Trading Window for Management

MARLBOROUGH, Mass., Aug. 28, 2024 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) ("ConnectM" or the "Company"), a technology company focused on the electrification economy, today announced that the Company's Board of Directors has approved a debt equity swap to deleverage the balance sheet, converting up to $15 million of the Company's outstanding debt to common equity at $2.00 per share. In addition to the Board's approval of the debt-to-equity conversion, the Board approved a trading policy for the Company's officers and directors, opening a window for share purchases by management, beginning today, August 28, 2024.

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