other material
confidence high
sentiment neutral
materiality 0.70
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.