ConnectM Technology Solutions Updates Buy-Out Group Ownership Following $1.60/Shr Acquisition Proposal

Author: Benzinga Newsdesk | April 29, 2025 07:03am

Buy-Out Group now owns approximately 16.1 million shares of ConnectM common stock, representing approximately 31.4% of the Company's outstanding shares

MARLBOROUGH, Mass., April 29, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the energy economy, today announced an update regarding the ownership positions of the investor group (the "Buy-Out Group") that submitted a non-binding proposal on March 31, 2025, 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 Co. Ltd. — 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, 2025.

Individually:

• SriSid LLC currently owns approximately 7,553,664 shares (14.8% of outstanding shares),
• Arumilli LLC currently owns approximately 5,069,384 shares (9.9% of outstanding shares), and
• Win-Light Global Co. Ltd. currently owns approximately 3,475,016 shares (6.8% of outstanding shares).

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.
 

Posted In: CNTM