UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
Settlement Agreement and Stipulation
In January 2025, pursuant to certain claim purchase agreements between Last Horizon, LLC, a Nevada limited liability corporation (“LH”) and certain creditors of ConnectM Technology Solutions, Inc., a Delaware corporation (“ConnectM” or the “Company”) LH acquired approximately $9.0 million of outstanding liabilities (the “Obligation Amount”) of ConnectM.
On January 28, 2025, ConnectM entered into a Settlement Agreement and Stipulation (the “Agreement”) with LH with respect to the Obligation Amount.
Pursuant to the Agreement, ConnectM has agreed to issue to LH, in one or more tranches as necessary, that number of shares of common stock, par value $0.0001 per share of ConnectM, with an aggregate value equal to the Obligation Amount divided by $1.09, subject to adjustment and ownership limitations as set forth in the Agreement.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement which is filed as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above in Item 1.01 of this Current Report on Form 8-K with respect to the Agreement is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| 10.1 | Settlement Agreement and Stipulation dated January 28, 2025, by and between the Company and Last Horizon, LLC |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
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: January 31, 2025
| CONNECTM TECHNOLOGY SOLUTIONS, INC. | ||
| By: | /s/ Bhaskar Panigrahi | |
| Name: | Bhaskar Panigrahi | |
| Title: | Chief Executive Officer | |