ConnectM Technology (CNTM) Eliminates $13.7M Debt

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Go back to ConnectM Technology (CNTM) Eliminates $13.7M Debt

ConnectM Eliminates $13.7 Million Debt

September 26, 2024 8:30 AM EDT

~ Completed Conversions of $6.2 Million Debt-to-Equity in Second Tranche ~

MARLBOROUGH, Mass., Sept. 26, 2024 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (ConnectM or the Company), a technology company focused on the electrification economy, today announced the Company has completed its second tranche of a debt-to-equity swap by converting an additional $6.2 million of the Companys outstanding debt to common equity at $2.00 per share, bringing the current total to $13.7 million. This debt-to-equity swap is part of a series of actions to deleverage the balance sheet.

With the total... More