CONX Corp.: M&A transaction — CONX Corp. completes $43.5M PIPE investment in EchoStar at $28.04/share

CONX Corp.

CONX purchased 1,551,355 EchoStar shares for ~$43.5M at $28.04/share, the Sep 27, 2024 closing price.
Total PIPE investors bought 14.265M shares for ~$400M; per-share price equal to EchoStar's Sep 27 closing price.
Charles Ergen controls both CONX (as chairman) and EchoStar, making the investment a related-party transaction.
Subscription agreement filed as Exhibit 10.1; previously disclosed in CONX's Sep 30, 2024 8-K.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.4

CONX Corp. completed an acquisition involving EchoStar Corporation for approximately $43.5 million (closed 2024-11-12).

Action: acquisition
Counterparty: EchoStar Corporation
Consideration: approximately $43.5 million
Closing: 2024-11-12

Exact text from the filing

pursuant to its Subscription Agreement represents an acquisition of 1,551,355 shares of EchoStar’s Class A common stock for a total cash purchase price of approximately $43.5 million. Mr. Ergen is the chairman and a member of the Board of Directors of the Company and controls the Company. The foregoing description of the PIPE Investment does not purport to be

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Source: SEC EDGAR

accession 0001104659-24-120161

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