debt
confidence high
sentiment neutral
materiality 0.40
ConnectM issues $1.39M Note Two-A to Ascent Partners; 105% cash repayment due on Listing Event
ConnectM Technology Solutions, Inc.
- Issued Senior Secured Convertible Note (Two-A): $1,388,888.89 principal for $1,250,000 cash, original issue discount of $138,888.89, 10% interest, matures Sept 28, 2027.
- Note Two-A converts at lower of $4.5885 or 95% of lowest 5-day VWAP during default, with 9.99% ownership cap; monthly amortization starts at Listing Event or by Feb 28, 2027.
- Amendment deletes right-of-first-refusal and most-favored-terms clauses on Listing Event and requires 105% cash repayment of principal plus accrued interest on Notes One and Three.
- Note Two-B ($1,388,888.89) and Note Three ($2,628,571.43, purchase price $2,300,000) remain unpurchased, to be bought only at Additional Closings; Schedule I lists no warrants.
- Maturity auto-accelerates to 30 days after the Blue Cloud lock-up ends; 160,000,000 Blue Cloud Softech shares stem from the April 6, 2026 Share Swap with AstraBridge.