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7.4% Stake Acquired by Another Institutional Investor in ConnectM, Bringing Total Institutional Ownership to 33%

1. ARUMILLI LLC acquired 7.4% of CNTM's shares, boosting institutional confidence. 2. Total institutional ownership in CNTM is now 33% after this acquisition. 3. The investment aligns with CNTM's focus on electrification and energy efficiency.

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$0.604503/19 04:04 PM EDTEvent Start
$0.603/20 10:39 PM EDTLatest Updated
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FAQ

Why Bullish?

Institutional investment historically correlates with positive stock performance. Examples include high institutional stakes in companies like Tesla before significant stock rises.

How important is it?

The investment signals confidence in CNTM's strategy, which may drive short-term investor interest.

Why Short Term?

Short-term price movements are likely influenced by increased institutional ownership. This tends to boost investor sentiment quickly, especially in tech sectors.

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TSLAENPHNEE
, /PRNewswire/ -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) ("ConnectM" or the "Company"), a high-growth technology company on the leading edge of the electrification economy, today reported that ARUMILLI LLC, an institutional investor, has filed a Schedule 13G with the Securities and Exchange Commission (SEC), disclosing ownership of 2,121,800 shares, or approximately 7.4% of ConnectM's outstanding common stock. A Schedule 13G filing indicates a significant passive investment by institutional or qualified investors. ARUMILLI LLC's investment represents a meaningful ownership stake in ConnectM, reflecting confidence in the Company's strategic direction and future prospects. With ARUMILLI LLC's investment, total institutional ownership in ConnectM now stands at 33% of the Company's outstanding shares. 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 RelationsDave Gentry, CEORedChip Companies, Inc.1-407-644-4256[email protected] SOURCE ConnectM Technology Solutions, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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