SEC Contract Filing

Filing Date: 2020-11-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>9
<FILENAME>tm2034867d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit 10.4</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PRIVATE
PLACEMENT WARRANTS PURCHASE AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS PRIVATE PLACEMENT
WARRANTS PURCHASE AGREEMENT, dated as of October 29, 2020 (as it may from time to time be amended and including all exhibits referenced
herein, this &ldquo;<B>Agreement</B>&rdquo;), is entered into by and among CONX Corp., a Nevada corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
and nXgen Opportunities, LLC, a Colorado limited liability company (the &ldquo;<B><I>Purchaser</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
intends to consummate an initial public offering of the Company&rsquo;s units (the &ldquo;<B><I>Public Offering</I></B>&rdquo;),
each unit consisting of one share of the Company&rsquo;s Class A common stock, par value $0.0001 per share (each, a &ldquo;<B><I>Share</I></B>&rdquo;),
and one-fourth of one redeemable warrant. Each whole warrant entitles the holder to purchase one Share at an exercise price of
$11.50 per Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Purchaser
has agreed to purchase an aggregate of 11,333,333 warrants (or up to 12,833,333 warrants in the aggregate to the extent the over-allotment
option in connection with the Public Offering is exercised) (the &ldquo;<B><I>Private Placement Warrants</I></B>&rdquo;), each
Private Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 1. Authorization, Purchase
and Sale; Terms of the Private Placement Warrants.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Authorization
of the Private Placement Warrants</U>. The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Purchase and
Sale of the Private Placement Warrants</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) On the date of
the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company
(the &ldquo;<B><I>Initial Closing Date</I></B>&rdquo;), the Company shall issue and sell to the Purchaser, and the Purchaser shall
purchase from the Company, an aggregate of 11,333,333 Private Placement Warrants at a price of $1.50 per warrant for an aggregate
purchase price of up to $17,000,000 (the &ldquo;<B><I>Purchase Price</I></B>&rdquo;), which shall be paid by wire transfer of immediately
available funds to the Company as follows: (i) $2,000,000 to the Company at a financial institution to be chosen by the Company,
and (ii) $15,000,000 to the Company&rsquo;s trust account maintained by Continental Stock Transfer &amp; Trust Company, acting
as trustee (the &ldquo;Trust Account&rdquo;), in each case in accordance with the Company&rsquo;s wiring instructions at least
one business day prior to the Initial Closing Date. On the Initial Closing Date, subject to the receipt of funds pursuant to the
immediately prior sentence, the Company, shall either, at its option, deliver certificates evidencing the Private Placement Warrants
purchased by the Purchaser on such date duly registered in the Purchaser&rsquo;s name to the Purchaser, or effect such delivery
in bo