ConnectM Provides Update from CEO
As promised, I would like to provide some more details on my team's plan to regain compliance and re-list on Nasdaq.
First, I want to reiterate that ConnectM's fundamentals have not changed. Our operations and growth prospects are as strong as ever. We have several appealing capital raise, organic, and inorganic growth options available to us, and management will prudently evaluate these options in the best interest of our stockholders. I believe the future remains bright for ConnectM and our intrinsic value is well above our current market price and would like to outline a plan in a bit more detail.
As mentioned in yesterday's release, to provide immediate liquidity to our stockholders, we have already down-listed to the OTC Pink Open Market and our stock can be traded through certain brokerage accounts, including
Our team is currently laser focused on the filing of our Annual Report on Form 10-K, for the year ended
In parallel with the filing of our 10-K, management is evaluating all available options including applying to uplist from OTC Pink to a higher OTC exchange tier, whose listing rules require current reporting status. Trading on a higher OTC tier indicates to the market that the Company meets reporting standards and baseline governance. Unlike OTC Pink companies, higher tier OTC companies must remain current in their disclosures, thereby improving credibility and investor confidence. In parallel with an OTC uplisting, we intend to re- file our re-sale S-1 and continue to work with our investment bank and capital market advisor,
In conjunction with a capital raise process, our team will evaluate an IPO or uplisting back to Nasdaq or NYSE as soon as possible under the exchange listing rules.
We are confident this process will result in a stronger, more resilient ConnectM. My management team and I want to reiterate our commitment to the company, our employees, our stockholders, and our community. ConnectM is a viable, strong, growing company and we will demonstrate this in due course.
Please don't hesitate to reach out with your questions via our contact information below:
1-407-644-4256
Sincerely Yours,
Bhaskar Panigrahi
About
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com/
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the "Cautionary Note Regarding Forward-Looking Statements" section of the Current Report on Form 8-K filed with the
Contact:
Investor Relations
1-407-644-4256
CNTM@redchip.com
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