ConnectM Technology Solutions Inc ( CNTM ) shares are trading higher by 143.4% to $1.20 during Wednesday’s session after the company announced it received a $1.60 per share buyout offer from 3 institutional investors.

What To Know: ConnectM Technology Solutions ( CNTM ) has received a non-binding acquisition proposal from its three largest institutional investors—SriSid LLC, Arumilli LLC and Win-Light Global Co. Ltd. The offer, submitted on March 31, values the company at approximately $46.5 million, offering $1.60 per share in cash.

The investor group, which has backed ConnectM since 2020, recently increased its ownership, signaling confidence in the company’s long-term potential.

If accepted, the deal would transition ConnectM into a privately held firm, pending due diligence, definitive agreements and regulatory approvals.

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