MCAC and ConnectM amend merger agreement, extend outside date to May 13, 2024

ConnectM Technology Solutions, Inc.

Outside date for deal termination extended from Nov 13, 2023 to May 13, 2024.
ConnectM will fund up to $414,000 per monthly extension (max $2.484M total) into trust to extend deadline.
Extension requires MCAC stockholder approval to amend charter and trust agreement.
MCAC may extend business combination deadline by up to six one-month periods beyond original Nov 13, 2023 date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ConnectM Technology Solutions, Inc. amended First Amendment to Agreement and Plan of Merger with Monterey Capital Acquisition Corporation, Chronos Merger Sub, Inc. (effective 2023-10-12).

Action: amendment
Agreement: merger
Counterparty: Monterey Capital Acquisition Corporation, Chronos Merger Sub, Inc.
Effective: 2023-10-12

Exact text from the filing

On October 12, 2023, Monterey Capital Acquisition Corporation (the “MCAC”), Chronos Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of MCAC (“Merger Sub”), and ConnectM Technology Solutions, Inc., a Delaware corporation (“ConnectM”), entered into a First Amendment to Agreement and Plan of Merger (the “Amendment”), which amended the Agreement and Plan of Merger, dated as of December 31, 2022, by and among MCAC, Merger Sub, and ConnectM (the “Merger Agreement”).

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ConnectM Technology Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-109400

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