10:44 AM EDT, 04/02/2025 (MT Newswires) -- ConnectM Technology Solutions ( CNTM ) gained more than 110% in early Wednesday after disclosing that it has received a non-binding buyout proposal from its three largest institutional investors, valuing the clean technology company at around $46.5 million.

The investor group -- SriSid LLC, Arumilli LLC and Win-Light Global -- is offering to acquire all the ConnectM shares they do not already own for $1.60 per share. ConnectM closed on Tuesday at $0.4950 per share.

ConnectM said deal, if accepted, would privatize the company and is subject to the completion of customary due diligence, definitive agreements, and regulatory approvals.

Price: 1.03, Change: +0.54, Percent Change: +108.08