Monterey Capital Acquisition said it has filed an S-4 with a preliminary proxy outlining its proposed merger with ConnectM Technology Solutions. The target is a vertically integrated clean energy technology and solutions provider for buildings (residential and light commercial) and all-electric OEMs.
The merger is expected to be completed during the second quarter of 2024, the SPAC said.
Certain stockholders of both the SPAC and ConnectM have entered into agreements to vote in favor of the merger.
At deal announcement a year ago, ConnectM had a pre-money equity valuation of $145 million. Monterey Capital held about $93 million in trust. Read more.
