Monterey Capital Acquisition Corporation announced that it has received $3.04 million in funding from Monterrey Acquisition Sponsor, LLC

On May 13, 2022, Monterey Capital Acquisition Corporation closed the transaction. The company issued 3,040,000 warrants for gross proceeds of $3,040,000 in the transaction. The warrants will be exercisable on a cashless basis and be non-redeemable, so long as they are held by the initial purchasers or their permitted transferees.