Monterey Acquisition Sponsor Files SC 13D for ConnectM Tech

TL;DR

**Monterey Acquisition Sponsor now a major player in ConnectM Tech. Big changes ahead?**

AI Summary

Monterey Acquisition Sponsor, LLC, formerly known as Monterey Capital Acquisition Corp, has filed a Schedule 13D on July 19, 2024, regarding their holdings in ConnectM Technology Solutions, Inc. The filing indicates a change in ownership or control, with Monterey Acquisition Sponsor, LLC now being a significant stakeholder in ConnectM Technology Solutions, Inc. The specific percentage of ownership and dollar amounts are not detailed in this excerpt.

Why It Matters

This filing signals a potential shift in control or significant influence over ConnectM Technology Solutions, Inc. by Monterey Acquisition Sponsor, LLC, which could impact the company's strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty and potential volatility for the subject company's stock.

Key Players & Entities

• Monterey Acquisition Sponsor, LLC (company) — Filing entity
• ConnectM Technology Solutions, Inc. (company) — Subject company
• Monterey Capital Acquisition Corp (company) — Former name of filing entity
• BALA PADMAKUMAR (person) — Group member

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $5,000,000 — ceeds are reasonably expected to exceed $5,000,000. The RRA also provides the stockholders
• $16.50 — e of the common stock equals or exceeds $16.50 for any 20 trading days within any 30 t

Filing Documents

• tm2419834d1_sc13d.htm (SC 13D) — 62KB
• 0001104659-24-081193.txt ( ) — 64KB

below summarizes

Item 4 below summarizes certain provisions of the Merger Agreement (as defined below) that pertain to the securities acquired by the Reporting Persons, as applicable. Pursuant to the Merger Agreement, upon consummation of the Business Combination (as defined below), all shares of common stock, par value 0.0001 per share, and preferred stock, par value $0.0001 per share, of ConnectM Operations,Inc. (f/k/a ConnectM Technology Solutions,Inc., and referred to herein as “Legacy ConnectM”) were exchanged for shares of Common Stock of the Issuer. Item 4. Purpose of Transaction. Business Combination On J uly12, 2024 (the “ Closing Date ”), the previously announced business combination was consummated pursuant to that certain Agreement and Plan of Merger, dated as of December31, 2022 (as amended from time to time, the “ Merger Agreement ”), by and among the Issuer, Chronos Merger Sub,Inc., a wholly owned subsidiary of the Issuer prior to the consummation of the Business Combination (“ Merger Sub ”), and Legacy ConnectM. On the Closing Date, Merger Sub merged with and into Legacy ConnectM, with Legacy ConnectM surviving the merger as a wholly owned subsidiary of the Issuer (the ‘ Business Combination ”). In addition, in connection with the consummation of the Business Combination, the Issuer was renamed “ConnectM Technology Solutions,Inc.” and Legacy ConnectM was renamed “ConnectM Operations,Inc.” Pursuant to the terms of the Merger Agreement, among other matters, at the effective time of the Business Combination (the “Effective Time”), (i)each share of Legacy ConnectM common stock issued and outstanding immediately prior to the Effective Time was cancelled and converted into the right to receive shares of the Issuer’s Common Stock at an exchange ratio of 3.3213477:1 (the “Exchange Ratio”), rounded down to the nearest whole share, and (ii)each share of Leg

View Full Filing

View this SC 13D filing on SEC EDGAR