ConnectM creates Series A and B Convertible Preferred Stock with 12%/18% dividends and liquidation preference

ConnectM Technology Solutions, Inc.

Designated 100K shares each of Series A (12% dividend) and Series B (18% dividend) Convertible Preferred Stock.
Series A converts at 90% of 5-day VWAP; Series B converts at 95% of VWAP after 1 year or VWAP >= $1.00.
Preferred holders get liquidation preference over common; company can redeem at 115% of liquidation amount.
No voting rights; conversions limited to 9.99% beneficial ownership.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ConnectM Technology Solutions, Inc.: Filed Certificates of Designation for Series A and Series B Convertible Preferred Stock (effective 2025-05-05).

Change: charter amendment
Effective: 2025-05-05

Exact text from the filing

Effective May 5, 2025, ConnectM Technology Solutions, Inc., a Delaware corporation (the “Company”) filed with the Secretary of State of the State of Delaware, a Certificate of Designations of Preferences and Rights of Series A Convertible Preferred Stock (the “Series A Certificate”) and a Certificate of Designations of Preferences and Rights of Series B Convertible Preferred Stock (the “Series B Certificate”)

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23 governance changes filed in the last 30 days. Browse all governance changes →

ConnectM Technology Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-049092

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