ConnectM sells 4,000 Series C convertible preferred shares in unregistered private placement
CNTM•Private placement details
ConnectM completed an unregistered private placement under Securities Act Section 4(a)(2) and Regulation D Rule 506.
The transaction included issuance of a Note and Warrants to an accredited investor.
Series C preferred stock terms
The company designated 4,000 shares as Series C Convertible Preferred Stock with a stated value of $1,000 per share.
The Series C carries 10% cumulative dividends, payable monthly in cash or added to the conversion amount; the rate rises to 24% during a Negative Event.
Conversion into common stock begins six months after a Listing Event, subject to a 9.99% beneficial ownership cap.
