secwatch.observer — SEC 8-K summary
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Issuer:     CONX Corp. (—)
CIK:        0001823000
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001104659-23-113286
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/0001104659-23-113286-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823000/000110465923113286/tm2329481d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-113286

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