MARLBOROUGH, Mass. , May 8, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (OTC: CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the energy economy, today issued the following letter to shareholders:

Dear ConnectM Community, 

As you may have noticed, Nasdaq suspended trading of our stock this morning. With the guidance of the nation's top Nasdaq Advisory consultant, we had a meeting with the Hearings Panel two weeks ago to discuss our plan to regain compliance under the Nasdaq market value of listed securities and timely filing requirements and were quite surprised by their sudden suspension notice. 

I want to be very clear 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.

Post our Nasdaq hearing, management made substantial progress towards regaining listing compliance and this information has been sent to Nasdaq as of May 7, 2025. As a result, we are currently consulting with our advisors regarding the possibility of appealing the decision and presenting our plan to regain and maintain compliance. 

While we sort through the above, ConnectM is currently listed on the OTC Pink Market, and our stock can be traded through certain brokerage accounts, including Charles Schwab, Fidelity, E*Trade, and Interactive Brokers. Some of these platforms require user approval for OTC trading and users may need to adjust account settings and risk profiles so please check with your broker if you would like to trade our stock. 

We plan to uplist the company to the OTCQB Market as soon as possible and ultimately back to either the Nasdaq or NYSE regardless of whether our appeal is successful. Our team is laser focused on filing our Annual Report on Form 10-K for the year ended December 31, 2024, followed by our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. I intend to provide more details on this plan by May 9^th.

Despite this setback, 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. 

Sincerely Yours, 

Bhaskar Panigrahi 

About ConnectM Technology Solutions, Inc.

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 Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 

Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/connectm-issues-letter-to-stockholders-302450461.html

SOURCE ConnectM Technology Solutions, Inc.