EchoStar Corp. Files 8-K: Material Agreement and Financials
Ticker: SATS · Form: 8-K · Filed: Nov 14, 2024 · CIK: 1415404
Sentiment: neutral
Topics: material-agreement, financial-obligation, filing
TL;DR
EchoStar signed a big deal, check the 8-K.
AI Summary
On November 8, 2024, EchoStar Corp. entered into a material definitive agreement related to a financial obligation. The filing also indicates other events and financial statements were included. DISH Network Corp. is also listed as a filer.
Why It Matters
This filing signals a significant financial commitment or agreement for EchoStar Corp., potentially impacting its future operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements and financial obligations can introduce significant financial risks and operational changes.
Key Players & Entities
- EchoStar Corp. (company) — Filer of the 8-K
- DISH Network Corp. (company) — Related company listed in the filing
- 20241108 (date) — Period of report
- 20241113 (date) — Date of change
FAQ
What type of material definitive agreement did EchoStar Corp. enter into?
The filing indicates an 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', but the specific details of the agreement are not provided in this summary.
What is the significance of DISH Network Corp. being listed?
DISH Network Corp. is listed as a filer alongside EchoStar Corp., suggesting a close relationship or a transaction involving both entities, though the exact nature is not detailed here.
What is the reporting period for this 8-K filing?
The conformed period of report is November 8, 2024.
When was this 8-K filing submitted?
The filing was submitted on November 14, 2024.
What other items are mentioned in the 8-K filing besides the material agreement?
The filing also includes 'Other Events' and 'Financial Statements and Exhibits'.
Filing Stats: 4,611 words · 18 min read · ~15 pages · Grade level 18.3 · Accepted 2024-11-13 21:40:13
Key Financial Figures
- $0.01 — hich registered Class A common stock, $0.01 par value SATS The Nasdaq Stock Mar
- $4,682,384,000 — date, an aggregate principal amount of $4,682,384,000 of Existing Notes had been validly tend
- $2,287,738,216 — suant to the Offers, the Company issued $2,287,738,216 in aggregate principal amount of EchoSt
- $1,876,229,456 — l amount of EchoStar Exchange Notes and $1,876,229,456 in aggregate principal amount of EchoSt
- $138,403,000 — EchoStar Convertible Notes. A total of $138,403,000 aggregate principal amount of DISH Netw
- $45,209,000 — l amount of DISH Network 2025 Notes and $45,209,000 aggregate principal amount of DISH Netw
- $1,000 — preceding May 30, 2030, in multiples of $1,000 principal amount, at the option of the
- $0.001 — ares of Class A Common Stock, par value $0.001 per share, per $1,000 principal amount
- $33.63 — ible Notes (equivalent to approximately $33.63 per share of Class A Common Stock). Ce
- $5,355,999,854 — nvertible Notes, the Company issued (i) $5,355,999,854 of 10.750% Senior Spectrum Secured Note
- $29,999,993 — ain other accredited investors and (ii) $29,999,993 of EchoStar Convertible Notes (the " Ad
Filing Documents
- tm2428023d1_8k.htm (8-K) — 136KB
- tm2428023d1_ex4-1.htm (EX-4.1) — 28KB
- tm2428023d1_ex4-2.htm (EX-4.2) — 28KB
- tm2428023d1_ex4-3.htm (EX-4.3) — 1278KB
- tm2428023d1_ex4-4.htm (EX-4.4) — 155KB
- tm2428023d1_ex4-5.htm (EX-4.5) — 145KB
- tm2428023d1_ex4-6.htm (EX-4.6) — 1589KB
- tm2428023d1_ex4-7.htm (EX-4.7) — 152KB
- tm2428023d1_ex4-8.htm (EX-4.8) — 143KB
- tm2428023d1_ex4-9.htm (EX-4.9) — 170KB
- tm2428023d1_ex4-10.htm (EX-4.10) — 167KB
- tm2428023d1_ex4-11.htm (EX-4.11) — 1316KB
- tm2428023d1_ex4-12.htm (EX-4.12) — 149KB
- tm2428023d1_ex4-13.htm (EX-4.13) — 143KB
- tm2428023d1_ex4-14.htm (EX-4.14) — 221KB
- tm2428023d1_ex4-15.htm (EX-4.15) — 296KB
- tm2428023d1_ex5-1.htm (EX-5.1) — 30KB
- tm2428023d1_ex5-2.htm (EX-5.2) — 16KB
- tm2428023d1_ex5-3.htm (EX-5.3) — 69KB
- tm2428023d1_ex5-1img002.jpg (GRAPHIC) — 8KB
- tm2428023d1_ex5-1img003.jpg (GRAPHIC) — 13KB
- tm2428023d1_ex5-2img001.jpg (GRAPHIC) — 4KB
- tm2428023d1_ex5-3img005.jpg (GRAPHIC) — 13KB
- tm2428023d1_ex5-3img006.jpg (GRAPHIC) — 21KB
- tm2428023d1_ex5-3img007.jpg (GRAPHIC) — 8KB
- 0001104659-24-117961.txt ( ) — 7701KB
- sats-20241108.xsd (EX-101.SCH) — 4KB
- sats-20241108_def.xml (EX-101.DEF) — 26KB
- sats-20241108_lab.xml (EX-101.LAB) — 37KB
- sats-20241108_pre.xml (EX-101.PRE) — 24KB
- tm2428023d1_8k_htm.xml (XML) — 7KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Exchange Offers and Consent Solicitations On November 12, 2024 (the " Settlement Date "), EchoStar Corporation (the " Company ") completed its previously announced (i) offers to exchange (the " Exchange Offers ") any and all of the 0% Convertible Notes due 2025 issued by DISH Network Corporation (" DISH " and such notes, the " DISH Network 2025 Notes ") and any and all of the 3.375% Convertible Notes due 2026 issued by DISH Network (the " DISH Network 2026 Notes ," and together with the DISH Network 2025 Notes, the " Existing Notes ") for the applicable principal amount of 6.75% Senior Spectrum Secured Exchange Notes due 2030 (the " EchoStar Exchange Notes ") and 3.875% Convertible Senior Secured Notes due 2030 (the " EchoStar Convertible Notes ") issued by the Company, and (ii) solicitations of consent from holders of Existing Notes to amend certain provisions of the applicable indenture governing the related series of Existing Notes (the " Consent Solicitations " and, together with the Exchange Offers, the " Offers "). The Offers were made pursuant to the terms described in a final prospectus and consent solicitation statement, dated November 7, 2024 (the " Exchange Offer Prospectus "). Pursuant to the Offers, as of the expiration date, an aggregate principal amount of $4,682,384,000 of Existing Notes had been validly tendered (and not validly withdrawn), which represented participation from 92.93% of the holders of the DISH Network 2025 Notes and 98.45% of the holders of our DISH Network 2026 Notes. At the Settlement Date and pursuant to the Offers, the Company issued $2,287,738,216 in aggregate principal amount of EchoStar Exchange Notes and $1,876,229,456 in aggregate principal amount of EchoStar Convertible Notes. A total of $138,403,000 aggregate principal amount of DISH Network 2025 Notes and $45,209,000 aggregate principal amount of DISH Network 2026 Notes remain outstanding following the consummat