Billionaire Charles Ergen-backed blank-check firm aims to raise $1 bln in IPO

(Reuters) – CONX Corp, a blank-check company led by billionaire Charles Ergen, is looking to raise around $1 billion in an initial public offering, it said on Wednesday.

The firm aims to sell 100 million units at $10 apiece and list its units on under the symbol “CONXU”, it said in a filing here.

Ergen is the chairman of satellite TV provider Corp DISH.O and also serves as the chairman of satellite operator EchoStar Corp SATS.O.

A special acquisition company, or SPAC, is a shell vehicle that raises money in an IPO to buy and then merge with an unknown company, typically within two years. High-profile investors such as Bill Ackman and Michael Klein have raised billions through their this year.

Deutsche Bank Securities is the underwriter to ’s offering.

Source: Reuters – Billionaire Charles Ergen-backed blank-check firm aims to raise bln in IPO

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