ConnectM Technology Stock Surges 60% On Buyout Proposal

(RTTNews) - ConnectM Technology Solutions, Inc. (CNTM) is trading at $0.7958, up 60.76 percent or $0.3008 during Wednesday's trading, after receiving a non-binding proposal from its three largest institutional investors—SriSid LLC, Arumilli LLC, and Win-Light Global Co. Ltd. to acquire all remaining outstanding shares at $1.60 per share in cash.

The stock opened at $0.8418 and has ranged between $0.78 and $1.35 today, compared to a previous close of $0.4950 on the Nasdaq. Trading volume has surged to 133.53 million shares, well above the average of 523,583. The stock's 52-week range is between $0.47 and $12.47.

The offer, submitted on March 31, values ConnectM at approximately $46.5 million and would transition the company into a privately held entity.