UNITED STATES
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FORM
CURRENT REPORT
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Item 5.07. Submission of Matters to a Vote of Security Holders.
ConnectM Technology Solutions Inc., a Delaware corporation (“ConnectM” or the “Company”) held a special meeting of stockholders of the Company (the “Meeting”) on November 19, 2024 at 10:00 a.m. Eastern Time via live webcast.
There were 21,249,056 shares of Company common stock, par value $0.0001 per share (“Common Stock”) issued and outstanding on the record date, October 29, 2024. There were 11,189,991 common shares present at the Meeting in person or represented by proxy, which is 52.66% of the Common Stock entitled to vote, thereby constituting a quorum. Summarized below are the results of the matter voted on at the Meeting.
Share Issuance Proposal
Stockholders approved the proposal (the “Share Issuance Proposal”), for purposes of complying with Nasdaq Listing Rule 5635(d), for the issuance of up to an aggregate of 10,391,588 shares of Common Stock upon the conversion of $13,739,484 of the Company’s outstanding debt into shares of Common Stock at a conversion price of $2.00 per share subject to adjustment, pursuant to certain note conversion agreements and debt conversion agreements entered into in September 2024 and October 2024, between the Company and certain of the Company’s note holders and debt holders.
Approval of the Share Issuance Proposal required “For” votes from the holders of a majority of total votes cast on the proposal in accordance with Nasdaq Listing Rule 5635-3(e). Abstentions had no effect on the proposal. The Share Issuance Proposal received the following votes:
| FOR | AGAINST | ABSTAIN | BROKER NON-VOTES | |||
| 11,166,478 | 21,364 | 2,149 | 0 |
The Share Issuance Proposal was approved.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: November 25, 2024
| CONNECTM TECHNOLOGY SOLUTIONS, INC. | ||
| By: | /s/ Bhaskar Panigrahi | |
| Name: | Bhaskar Panigrahi | |
| Title: | Chief Executive Officer | |