Financing ·
ConnectM Technology Solutions entered a private placement with Ascent Partners Fund LLC for up to $5 million in senior…
CNTMConnectM Technology Solutions, Inc.
ConnectM Technology Solutions entered a private placement with Ascent Partners Fund LLC for up to $5 million in senior secured convertible promissory notes and warrants. The initial tranche closed on August 31, 2026, issuing a $200,000 note at a purchase price of $228,571.43 with 10% annual interest maturing in August 2027. A second tranche of $2,300,000 is expected by September 4, 2026. The notes convert to Series C Preferred Stock upon a listing event and are secured by substantially all company assets, including 160 million shares of Blue Cloud Softech Solutions Limited. Concurrently, the Company filed a Certificate of Designation for 4,000 shares of Series C Convertible Preferred Stock with a $1,000 stated value and 10% cumulative annual dividends payable monthly or via conversion increase. The company operates in the technology solutions industry.