ConnectM Technology Solutions announced the Company has completed more than half of its initial tranche of a debt-to-equity swap by converting $7.5 million of the Company’s outstanding debt to common equity at $2.00 per share. This action begins a series of balance sheet deleveragings as ConnectM seeks to maximize value for shareholders. Today’s transaction executes on the previously announced approval from the Company’s Board of Directors to convert up to $15 million of the Company’s outstanding debt to common equity at $2.00 per share.
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Read More on CNTM:
- ConnectM Successfully Eliminates $7.5 Million in Debt, Reaching Halfway Mark in Debt-To-Equity Conversion
- ConnectM Technology Solutions Bolsters Finances and Confidence
- ConnectM Prepares to Deleverage Balance Sheet with Board’s Approval of Debt-to-Equity Conversion
- ConnectM board approves debt-to-equity conversion
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