CONX Corp. announced that it has entered into a securities purchase agreement to issue 17,391,300 shares of the company?s series A convertible preferred stock at the price of $11.5 per share for the gross proceeds of $199.99995 million on November 1, 2023. The preferred shares will be converted into common shares at a conversion price of $11.5 per share, each share of preferred stock will mandatorily be converted into shares of the company?s Class A common stock on a one-for-one basis, subject to certain customary adjustments for stock dividends, stock splits and similar corporate actions.