---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-113286"
form_type: "8-K"
ticker: null
cik: "0001823000"
company_name: "CONX Corp."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:08:54.529881+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CONX receives Nasdaq delisting notice; Charles Ergen commits $200M PIPE contingent on business combination

## Summary
- Nasdaq notified CONX on Oct 30, 2023 of delisting for failing to complete business combination within 36 months; suspension set for Nov 8 unless hearing requested.
- Founder Charles Ergen agreed to purchase 17,391,300 Series A convertible preferred shares at $11.50/share ($200M), contingent on and concurrent with initial business combination.
- Preferred stock mandatorily converts to common if VWAP >= $11.50 for 20 of 30 trading days; if not converted in 5 years, redeemed at $11.50/share.
- Company will request a Nasdaq hearing, which stays any suspension pending decision.
- Issuance of preferred stock exempt from registration under Section 4(a)(2) of Securities Act.

## SEC filing metadata
- accession: 0001104659-23-113286
- form_type: 8-K
- cik: 0001823000
- company_name: CONX Corp.
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/0001104659-23-113286-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/tm2329481d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-113286
- JSON: https://secwatch.observer/filing/0001104659-23-113286.json
- Plain text: https://secwatch.observer/filing/0001104659-23-113286.txt

## Key facts
- Listing & Compliance Notices
  CONX Corp. received a nasdaq delisting notice notice regarding other (rules IM-5101-2).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Rules: IM-5101-2
  source text: October 30, 2023, the Company received a notice from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s securities would be subject to suspension and delisting from The Nasdaq Capital Market at the opening of business on November 8, 2023 due to the Company’s non-compliance with Nasdaq IM-5101-2, which requires that a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of the registration statement for its initial public offering. The Company intends to r
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/0001104659-23-113286-index.htm
- Material Agreements
  CONX Corp. entered into Subscription Agreement with Charles W. Ergen valued at approximately $200 million (effective 2023-11-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Charles W. Ergen
  - Value: approximately $200 million
  - Effective: 2023-11-01
  source text: On November 1, 2023, CONX Corp. (the “Company” or “CONX”) entered into a subscription agreement (the “Subscription Agreement”) with Charles W. Ergen, the Company’s founder (the “Subscriber”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/0001104659-23-113286-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.