ConnectM Regains Compliance with Nasdaq Listing Requirement
Rhea-AI Summary
ConnectM Technology Solutions (NASDAQ: CNTM) has successfully regained compliance with Nasdaq's listing requirements regarding the minimum market value of publicly held shares (MVPHS). The company, which was notified of non-compliance on December 13, 2024, has now met the requirement of maintaining an MVPHS of at least $5 million over 30 consecutive business days. Nasdaq confirmed that from April 22 to May 6, 2025, ConnectM's MVPHS remained above the required threshold, resolving the listing compliance issue.
Positive
- Regained Nasdaq listing compliance, eliminating delisting risk
- Demonstrated market value recovery with MVPHS exceeding $5 million for required period
Negative
- Previous non-compliance with Nasdaq listing requirements indicates past market value concerns
News Market Reaction 1 Alert
On the day this news was published, CNTM declined 40.92%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
On December 13, 2024, the Company was notified by Nasdaq staff (the "Staff") that it was not in compliance with the MVPHS requirement, which mandates a minimum MVPHS of
About ConnectM Technology Solutions, Inc.
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com/
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the "Cautionary Note Regarding Forward-Looking Statements" section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/connectm-regains-compliance-with-nasdaq-listing-requirement-302449157.html
SOURCE ConnectM Technology Solutions, Inc.
FAQ
What was ConnectM's (CNTM) Nasdaq compliance issue in December 2024?
How did ConnectM (CNTM) regain Nasdaq compliance in May 2025?
What is the minimum MVPHS requirement for Nasdaq Global Market listing?
When did ConnectM (CNTM) receive confirmation of regaining Nasdaq compliance?
