FREQUENTLY USED TERMS
Unless otherwise stated in this Annual Report on Form 10-K, the terms, “we,” “us,” “our”, “Company” or “MCAC” refer to Monterey Capital Acquisition Corporation, a Delaware corporation.
Further, in this document:
| ● | “Anchor Investors” are the ten qualified institutional buyers or institutional accredited investors which are not affiliated with MCAC, the Sponsor, the board of directors or any member of MCAC’s management and purchased an aggregate of 9,108,000 units in the IPO and purchased from the Sponsor an aggregate of 600,000 Founder Shares at their original purchase price of approximately $0.009 per share. |
| ● | “Class A Common Stock” means MCAC’s Class A common stock, par value $0.0001 per share. |
| ● | “Class B Common Stock” means MCAC’s Class B common stock, par value $0.0001 per share. |
| ● | “Closing” means the consummation of the business combination. |
| ● | “Combined Company” mean the post business combination company. |
| ● | “common stock” means the shares of common stock, par value $0.0001 per share, of MCAC, which includes Class A Common Stock and Class B Common Stock, collectively. |
| ● | “ConnectM” means ConnectM Technology Solutions, Inc., a Delaware corporation, prior to the consummation of the Business Combination. |
| ● | “DGCL” means the Delaware General Corporation Law. |
| ● | “Extension Option” means MCAC’s option to extend the period of time to the extent necessary to consummate its initial business combination up to two times by an additional three months each time, at $0.10 per unit outstanding after the redemptions per extension, for a total of $0.20 per unit outstanding after the redemptions aggregate in trust, within 18 months if MCAC is unable to complete the initial business combination within 12 months from the date of the IPO. |
| ● | “Exchange Act” means the Securities Exchange Act of 1934, as amended. |
| ● | “Forward Purchase Agreement” means that certain Forward Purchase Agreement, dated as of December 31, 2022, by and among MCAC and Meteora. |
| ● | “Forward Purchase Transaction” means the OTC Equity Prepaid Forward Transaction entered into, in connection with the Forward Purchase Agreement. |
| ● | “Founder Shares” mean the shares of Class B Common Stock initially purchased by the Sponsor in a private placement prior to the IPO, and the shares of Class A Common Stock issuable upon the conversion. |
| ● | “IPO” or “Initial Public Offering” means the initial public offering of 9,200,000 of MCAC public units, which was consummated on May 13, 2022. |
| ● | “Merger” means the merger of Merger Sub with and into ConnectM, with ConnectM as the surviving company. |
| ● | “Merger Agreement” means that certain Agreement and Plan of Merger, dated as of December 31, 2022, by and among MCAC, Merger Sub and ConnectM. |