Jul. 23 at 11:53 AM
$CNTM June 9, 2025
"Group halts
$62M plan to buy Marlborough tech firm, following Nasdaq delisting"
After the Nasdaq-delisted ConnectM Technology Solutions failed to timely file regulatory financial reports, the group that had previously offered to buy the Marlborough-based clean energy firm has put its acquisition offer on hold.
The decision to halt purchase discussions comes after ConnectM received a
$62-million buyout offer in April
from 3 of its largest institutional investors:
SriSid LLC, Arumilli LLC, & Win-Light Global Co. Ltd.,
all of whom had begun their investing relationships
in the firm in 2020.
But in June, ConnectM announced the buyout group had decided to suspend both the buyout proposal & acquisition conversations after the company had delayed filing its annual financial report & its quarterly financial report with the U.S. [ SEC ], per a June 2 press release from ConnectM.
These reports are required for all publicly traded companies.
https://www.wbjournal.com/article/group-halts-62m-plan-to-buy-marlborough-tech-firm-following-nasdaq-delisting