Certain Class B Common Stock of Monterey Capital Acquisition Corporation are subject to a Lock-Up Agreement Ending on 6-NOV-2022. These Class B Common Stock will be under lockup for 180 days starting from 10-MAY-2022 to 6-NOV-2022.

Details:
The company's sponsor and officers and directors have agreed that, for a period of 180 days from the date of this prospectus, they will not, without the prior written consent of the representative, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the company; (ii) file or caused to be filed any registration statement with the SEC relating to the offering of any shares of capital stock of the company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the company; (iii) complete any offering of debt securities of the company, other than entering into a line of credit with a traditional bank or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of the company, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of shares of capital stock of the company or such other securities, in cash or otherwise, subject to certain exceptions. The representative in its sole discretion may release any of the securities subject to these lock-up agreements at any time without notice, other than in the case of the officers and directors, which shall be with notice. Sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and placement warrants pursuant to the letter agreement as described herein.