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$5,000,000 in aggregate gross proceeds is the ceiling on ConnectM Technology Solutions, Inc.'s (CNTM) new senior secured convertible note facility with Ascent Partners Fund LLC, per a Form 8-K filed with the SEC on August 31, 2026.
The first tranche closed that same day: a $200,000 principal note purchased at $228,571.43, an original issue discount of $28,571.43.
The company expects a second tranche of $2,300,000 to close by September 4, 2026, putting the first two draws at $2,500,000 of the $5,000,000 capacity.
| Item | Amount / Term | |---|---| | Facility (gross proceeds) | $5,000,000 | | Tranche 1 principal | $200,000 | | Tranche 1 purchase price | $228,571.43 | | Original issue discount | $28,571.43 | | Tranche 2 (projected) | $2,300,000 | | Tranches 1+2 combined | $2,500,000 | | Note interest rate | 10% per annum | | Maturity | August 2027 | | Warrant term | 5 years | Collateral and investor terms The Security Agreement grants Ascent Partners a first-priority lien on substantially all ConnectM assets.
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