ConnectM receives BSE approval for Blue Cloud share swap; pro forma equity ~$18.8M

ConnectM Technology Solutions, Inc.

BSE Limited granted in-principle approval for Blue Cloud to issue 160M shares to ConnectM in exchange for India business.
Pro forma stockholders' equity rises from ~$2.0M to ~$18.8M, well above the $4-5M national exchange minimum.
ConnectM expects to record Blue Cloud shares as ~$30.4M investment and recognize a non-cash gain of ~$18.4M.
Closing anticipated by Q3 2026; Blue Cloud shares subject to statutory lock-up under Indian regulations.
Company continues to pursue national exchange uplisting with ThinkEquity as financial advisor.

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