ConnectM Announces Buyout Offer From Institutional Investors - Quick Facts

(RTTNews) - ConnectM Technology Solutions, Inc. (CNTM) has received a non-binding proposal offering $1.60 per share in cash from its three largest institutional investors — SriSid LLC, Arumilli LLC, and Win-Light Global Co. Ltd. — to acquire all remaining outstanding shares of the company and transition ConnectM into a privately held entity. The offer implies a total equity valuation of approximately $46.5 million for ConnectM.

SriSid LLC, Arumilli LLC, and Win-Light Global Co. have been long-term investors in ConnectM, having initially invested in the company in 2020. In recent months, the investor group has significantly increased their ownership positions.

Shares of ConnectM are up 114% in pre-market trade on Wednesday.