ConnectM issues $1.39 million secured convertible note to Ascent Partners Fund
CNTM•ConnectM Technology Solutions closed a $1.25 million financing tranche with Ascent Partners Fund, issuing a note with $1.39 million in principal. The note carries 10% annual interest, matures on October 13, 2027, and brings total original principal issued under the agreement to approximately $5 million.
1. Financing terms
ConnectM Technology Solutions closed its final financing tranche with Ascent Partners Fund on October 13, 2026, raising $1.25 million. The Senior Secured Convertible Promissory Note has $1.39 million in principal, reflecting an original issue discount of $138,888.89. It carries 10% annual interest, with one year guaranteed, and matures October 13, 2027, subject to automatic acceleration. Monthly principal amortization begins upon the earlier of the Listing Event or unrestricted trading of Blue Cloud Shares, no later than February 28, 2027. Total original principal issued under the completed securities purchase agreement reached approximately $5 million.
