- ConnectM Technology Solutions (CNTM, Financial) faces Nasdaq delisting due to non-compliance with listing requirements.
- The company failed to meet the $50 million market value requirement and did not file its 2024 Form 10-K on time.
- A hearing request has temporarily stayed the delisting process.
ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) is currently facing a potential delisting from Nasdaq due to two significant compliance failures. The company received a notice from Nasdaq on April 17, 2025, for not filing its 2024 Form 10-K in a timely manner, which is crucial for continued listing under Nasdaq's regulations.
Previously, on September 4, 2024, CNTM was notified by Nasdaq of its failure to maintain a minimum market value of $50 million, a requirement for listing on The Nasdaq Global Market. Despite a 180-day compliance period ending on March 3, 2025, the company did not meet this market value threshold, which exacerbates its risk of delisting.
In response to these compliance issues, ConnectM has requested a hearing to appeal the potential delisting action. This request has temporarily stayed any immediate delisting or suspension actions while the hearings process is underway. The company has indicated intentions to file the delayed 2024 Form 10-K 'within the very near term,' but it did not provide a specific timeline for this action.
ConnectM's challenges are further highlighted by its current market capitalization of approximately $18.5 million, which is significantly below the required $50 million threshold. This substantial gap suggests the need for an extraordinary increase in share price or significant capital-raising efforts to regain compliance.
