ConnectM Technology Solutions (CNTM) said Thursday it is reviewing a non-binding offer from its three largest institutional investors, SriSid LLC, Arumilli LLC, and Win-Light Global Co. Ltd., to acquire the company for $1.60 per share, valuing it at $46.5 million.
The company said it is seeking investment banking advice to assess the proposal, which, if accepted, would privatize ConnectM.
The deal is subject to due diligence, definitive agreements, and regulatory approvals.
Shares of the company rose nearly 7% in recent premarket activity.
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