ConnectM Approved A Debt Equity Swap To Deleverage The Balance Sheet, Converting Up To $15M Of The Co's Outstanding Debt To Common Equity At $2.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) has approved a debt equity swap to convert up to $15 million of debt into common equity at $2.00 per share, aiming to deleverage its balance sheet. The company also opened a trading window for management to purchase shares.
August 28, 2024 | 12:34 pm
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ConnectM has approved a debt equity swap to convert $15M of debt into equity at $2.00/share, which could improve the company's financial health by reducing debt. A trading window for management to buy shares is also opened.
The debt equity swap will reduce ConnectM's debt burden, potentially improving its financial stability and attractiveness to investors. The opening of a trading window for management suggests confidence in the company's future, which could positively influence the stock price.
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