ConnectM completed a $8.4 million conversion of its outstanding convertible promissory notes into common equity, issuing 39.5 million shares. The conversion eliminated the note principal and associated derivative liabilities, simplifying the balance sheet and aligning former noteholders with the equity base. After the transaction, the company’s common stock totaled 151,812,318 shares outstanding.
The company also used equity to acquire the nanotechnology battery assets of Amperics and the logistics and data‑center infrastructure of Geo Impex. The share issuances for these acquisitions were made on Nov 3, 2025, with 2.7 million shares issued for Amperics and 33.3 million shares for Geo Impex. The acquisitions add Hi‑C hybrid energy‑storage technology and a 76‑acre site in Odisha, India, expanding ConnectM’s AI‑powered energy platform and geographic reach.
To support the integration of the newly acquired businesses and maintain short‑term liquidity, ConnectM secured new working‑capital financing from a group of lenders, including Labrys Fund II, Vanquish Funding Group, FinWise Bank, NewCo Capital Group VI, Nebula Asset Holdings, Ace Funding Source, and WebBank. The terms of the financing were not disclosed.
Management said the combined actions position the company for disciplined growth in electrification, logistics, and AI infrastructure markets. The debt conversion reduces reliance on legacy debt, while the acquisitions provide technology and infrastructure that align with the company’s long‑term strategy. ConnectM has been in a turnaround, moving from a stockholders’ deficit to positive equity and regaining OTCQB trading status.
The transaction strengthens ConnectM’s capital structure, expands its technology portfolio, and extends its presence into the Indian logistics and data‑center market. The company’s balance sheet is now less leveraged, and the new assets are expected to contribute to future revenue growth in high‑margin AI‑driven energy and infrastructure segments.
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