CONX Corp. completes initial business combination, acquires DISH Wireless HQ for $26.75M

CONX Corp.

Purchased commercial real estate property in Littleton, CO from EchoStar for $26.75M; entered into sale-leaseback.
Sale-leaseback rent starts at $228,500/month, escalates 2% annually; CONX assumes roof/shell/core maintenance.
Issued 17,391,300 Series A Convertible Preferred shares at $11.50/share for ~$200M to Charles Ergen.
Repaid $900K promissory note and $1.17M + $0.54M extension notes to sponsor nXgen Opportunities.
Mandatory unit separation May 2, 2024; units (CONXU) delist, common (CONX) and warrants (CONXW) stay listed.

item 1.01 item 3.02 item 8.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CONX Corp. amended Amendment No. 1 to the Purchase Agreement with Seller valued at Amendment to Purchase Agreement to modify maintenance responsibilities in Seller Lease Agreement (effective 2024-05-02).

Action: amendment
Agreement: lease
Counterparty: Seller
Value: Amendment to Purchase Agreement to modify maintenance responsibilities in Seller Lease Agreement
Effective: 2024-05-02

Exact text from the filing

In connection with the closing of the Transaction, the Company and Seller entered into Amendment No. 1 to the Purchase Agreement ("Amendment No. 1"), to amend the form of Seller Lease Agreement (as defined below) to provide that the Company assumes responsibility for maintenance and repair with respect to roof, shell, core and systems of the Property and all other responsibilities (such as general maintenance and repair) are assumed by Seller.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CONX Corp. entered into Seller Lease Agreement with Seller valued at Sale-leaseback agreement for Property (effective 2024-05-02).

Action: entry
Agreement: lease
Counterparty: Seller
Value: Sale-leaseback agreement for Property
Effective: 2024-05-02

Exact text from the filing

In connection with the closing of the Transaction, the Company and Seller have entered into a sale-leaseback agreement (the "Seller Lease Agreement"), pursuant to which Seller will lease back the Property from the Company.

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Source: SEC EDGAR

accession 0001104659-24-055921

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