CONX Corp. agrees to acquire EchoStar's Littleton property for $26.75M as initial business combination

CONX Corp.

Purchase price $26.75M for DISH Wireless HQ; closing expected Q2 2024, may be terminated if not closed by May 15, 2024.
SPAC business combination structure triggers shareholder redemption tender offer for Class A shares.
Concurrent 10-year sale-leaseback at $228,500/month base rent, 2% annual escalation, guaranteed by DISH Network.
Contingent $200M Preferred Stock Financing ($11.50/sh) from Charles Ergen to close with the transaction.
Due diligence and option to terminate through April 15, 2024; final price may adjust per appraisal.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CONX Corp. entered into Purchase Agreement with EchoStar Real Estate Holding L.L.C. valued at $26.75 million (effective 2024-03-10).

Action: entry
Agreement: asset purchase
Counterparty: EchoStar Real Estate Holding L.L.C.
Value: $26.75 million
Effective: 2024-03-10

Exact text from the filing

On March 10, 2024, CONX Corp. (the “Company”), a special purpose acquisition company, and EchoStar Real Estate Holding L.L.C. (“Seller”), a subsidiary of EchoStar Corporation, entered into a definitive purchase and sale agreement (the “Purchase Agreement”), which provides for the Company’s purchase from the Seller of the commercial real estate property (the “Property”) in Littleton, Colorado, comprising the corporate headquarters of DISH Wireless, for a purchase price of $26.75 million (the “Purchase Price” and such transaction, the “Transaction”).

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Source: SEC EDGAR

accession 0001104659-24-032710

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