secwatch.observer — SEC 8-K summary
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Issuer:     CONX Corp. (—)
CIK:        0001823000
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001104659-24-058132
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 5.06, 9.01, 3.02, 3.03, 5.03
LLM model:  deepseek-v4-flash:cloud@v2

CONX completes $26.75M property buy from EchoStar, issues $200M preferred, delists Nasdaq
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- Acquired Littleton, CO commercial real estate for $26.75M from EchoStar affiliate; triple-net leaseback with 10-year term at $228.5K/month.
- Issued 17.39M shares of Series A Convertible Preferred at $11.50/share to Charles Ergen family trust for $200M.
- Tender offer bought back 1.94M Class A shares at $10.598 each; 99% of Class A now held by nXgen and affiliates.
- Class B common converted to Class A; no shares outstanding. Stock no longer listed on Nasdaq; OTC listing application pending.
- Preferred stock mandatorily converts to Class A when VWAP >= $11.50 for 20 of 30 trading days; otherwise redeemable after 5 years at $11.50.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823000/000110465924058132/0001104659-24-058132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823000/000110465924058132/tm2413693d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-058132

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