ConnectM Technology Solutions, Inc. (CNTM) Form 8-K — Oct 19, 2026
ConnectM closed the final tranche of its securities purchase agreement with Ascent Partners Fund LLC on October 13, 2026, issuing a $1.39 million senior secured convertible note for net proceeds of $1.25 million. The note bears 10% interest (one year guaranteed), matures October 13, 2027, and is convertible at the lower of $4.5885 or 95% of the lowest 5-day VWAP during a default. With this closing, ConnectM has now issued approximately $5.0 million in aggregate principal to Ascent Partners under the agreement. Amortization payments begin no later than February 28, 2027, and may be paid in stock at the Amortization Price if equity conditions are met.
Key figures
- Interest Rate
- 10
- Maturity Date
- 2027-10-13
- Gross Proceeds
- 1250000
- Conversion price cap
- 4.5885
- Default interest rate
- 24
- Amortization floor price
- 1
- Late delivery fee per day
- 1000
- Beneficial ownership limit
- 9.99%
- Optional prepayment premium
- 110%
- Aggregate principal issued to date
- 5000000
AI analysis
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