CONX Corp.: M&A transaction — CONX acquires controlling 68% stake in RED Technologies for up to €18.6M; warrant buyback authorized

CONX Corp.

Acquired ~68% of RED Technologies SAS for up to €18.6M cash; remainder to be acquired in future installments.
Completed closing on Dec 5, 2024 for ~57.5% from investor sellers and ~10.6% initial founder closing.
Appointed Marc Rouanne (ex-DISH Wireless CNO, ex-Nokia) to RED Technologies board.
Board authorized warrant buyback program of up to $1.0M of public warrants (CNXXW) through Dec 31, 2024.

item 1.01 item 2.01 item 7.01 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 0.9

CONX Corp. completed an acquisition involving RED Tech US, LLC for €9,000,000 (closed 2024-12-05).

Action: acquisition
Counterparty: RED Tech US, LLC
Consideration: €9,000,000
Closing: 2024-12-05

Exact text from the filing

and conditions of the Investors Purchase Agreement, the total cash consideration for 100% of the Investor Sellers' shares payable by Buyer to the Investor Sellers at closing is €9,000,000, subject to customary adjustments. The Investors Purchase Agreement contains representations, warranties and covenants by the parties, conditions in favor of the parties and

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Source: SEC EDGAR

accession 0001104659-24-125995

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