Conx announces closing of initial business combination

CONX Corp completed its previously announced transaction pursuant to the terms of the purchase and sale agreement dated as of March 10, 2024, by and between the Company and EchoStar Real Estate Holding L.L.C. a subsidiary of EchoStar Corporation. Pursuant to the terms of the Purchase Agreement, the Company purchased from Seller the commercial real estate property in Littleton, Colorado, comprising the corporate headquarters of DISH Wireless, for a purchase price of $26.75 million. The Transaction constitutes the Company’s initial business combination. In connection with the Transaction, the Company and Seller have entered into a sale-leaseback agreement, pursuant to which Seller will lease back the Property from the Company.