EchoStar Corp. Terminates Material Definitive Agreement
Ticker: SATS · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1415404
Sentiment: neutral
Topics: agreement-termination, legal, exhibits
Related Tickers: SATS
TL;DR
EchoStar just terminated a big deal. What was it?
AI Summary
EchoStar Corp. announced the termination of a material definitive agreement on November 21, 2024. The filing also includes financial statements and exhibits related to this termination. Specific details of the agreement and the reasons for termination are not provided in this summary.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's strategic direction and financial performance, potentially affecting its ongoing operations and future plans.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement introduces uncertainty regarding the company's contractual obligations and future business relationships.
Key Players & Entities
- EchoStar Corp. (company) — Filer of the 8-K
- DISH Network Corp (company) — Related company with shared address and management
- DISH DBS Corp (company) — Related company with shared address and management
- 20241121 (date) — Date of termination of material definitive agreement
FAQ
What specific material definitive agreement was terminated by EchoStar Corp.?
The filing does not specify the exact name or details of the material definitive agreement that was terminated.
On what date was the termination of the material definitive agreement effective?
The termination of the material definitive agreement was effective as of November 21, 2024.
What are the reasons cited for the termination of this agreement?
The filing does not provide specific reasons for the termination of the material definitive agreement.
Are there any financial implications mentioned due to this termination?
The filing mentions that financial statements and exhibits are included, suggesting potential financial implications, but specific amounts or impacts are not detailed in the provided text.
Does this termination involve any other named parties besides EchoStar Corp.?
The filing does not explicitly name other parties to the terminated agreement, only identifying EchoStar Corp. as the filer.
Filing Stats: 731 words · 3 min read · ~2 pages · Grade level 12.3 · Accepted 2024-11-21 21:57:44
Key Financial Figures
- $0.001 — hich registered Class A common stock, $0.001 par value SATS The Nasdaq Stock Mar
Filing Documents
- tmb-20241121x8k.htm (8-K) — 72KB
- 0001415404-24-000022.txt ( ) — 246KB
- tmb-20241121.xsd (EX-101.SCH) — 4KB
- tmb-20241121_def.xml (EX-101.DEF) — 14KB
- tmb-20241121_lab.xml (EX-101.LAB) — 19KB
- tmb-20241121_pre.xml (EX-101.PRE) — 14KB
- tmb-20241121x8k_htm.xml (XML) — 14KB
02. Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement . As previously disclosed, on September 29, 2024, EchoStar Corporation, a Nevada corporation (the " Company "), and DIRECTV Holdings, LLC, a Delaware limited liability company (" DIRECTV "), entered into an Equity Purchase Agreement (the " Purchase Agreement "), pursuant to which and subject to the terms and conditions therein, DIRECTV would acquire from the Company all of the issued and outstanding equity interests of DISH DBS Corporation, a Colorado corporation, which operates the Company's Pay-TV business. On November 20, 2024, the Company received a written notice from DIRECTV that it is terminating the Purchase Agreement effective at 11:59 pm ET on November 22, 2024 pursuant to Section 7.01(a)(iv) of the Purchase Agreement because the Exchange Offer (as defined in the Purchase Agreement) was not consummated by the Exchange Offer Settlement Date (as defined in the Purchase Agreement). No termination fee or other payment is due from either party to the other as a result of the termination of the Purchase Agreement. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by the full text of the Purchase Agreement, a copy of which was previously filed with the Securities and Exchange Commission as Exhibit 2.1 to the Company's Current Report on Form 8-K filed on September 30, 2024, and is incorporated by reference herein.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit No. Description Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ECHOSTAR CORPORATION Date: November 22, 2024 By: /s/ Dean A. Manson Dean A. Manson Chief Legal Officer and Secretary