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CONX Corp. completed its initial business combination by purchasing commercial real estate property in Littleton, Colorado, for $26.75 million, constituting the Company's first business combination. The Company provided shareholders the opportunity to redeem shares before the transaction. CONX plans to grow through acquisitions of disruptive technologies and infrastructure assets to enhance shareholder value. The Company's units will be mandatorily separated on May 2, 2024, with each unit containing one share of Class A common stock and one-fourth of one warrant.
CONX Corp. announced the final results of its tender offer to purchase up to 2,120,269 shares of Class A common stock at a price of $10.598120 per share. A total of 1,941,684 shares were tendered, representing approximately 91.6% of the company's outstanding shares. The transaction is in connection with the sale and leaseback of property in Littleton, Colorado, expected to close on May 1, 2024.
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CONX Corp. (Nasdaq: CONX, CONXU) has announced a Special Meeting on October 31, 2022, to seek stockholder approval for extending the deadline to finalize a business combination from November 3, 2022, to June 3, 2023. This extension aims to facilitate negotiations with DISH Network Corp. regarding a potential business transaction. If approved, the Company will receive financial advances from its Sponsor, potentially totaling up to $10,500,000. The current redemption amount per share is projected to increase from $10.05 to $10.19.
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