ConnectM Technology Solutions, Inc. has completed the final closing of a securities purchase agreement with Ascent Partners Fund LLC. The transaction, finalized on October 13, 2026, involved the issuance of a Senior Secured Convertible Promissory Note (Two-B) to the Purchaser.
The Note Two-B carries an original principal amount of $1,388,888.89. The company received $1,250,000 for the note, representing an original issue discount of $138,888.89. The note is secured and bears interest at a rate of 10% per annum, with one year's interest guaranteed.
Under the terms of the agreement, Note Two-B matures on October 13, 2027. The note is convertible into shares of the Company’s Common Stock prior to a specified Listing Event. The conversion price is set at the lower of $4.5885 or 95% of the lowest VWAP during a five-day period preceding the conversion date, subject to a 9.99% beneficial ownership limitation.
Principal amortization payments are required to begin on the earlier of the Listing Event or February 28, 2027. The Company may also make payments in shares of Common Stock at the Amortization Price, provided certain equity conditions are met.
Following this final closing, the Purchaser has purchased all securities under the Purchase Agreement. The Company has issued notes with an aggregate original principal amount of approximately $5,000,000. The securities were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D.
