secwatch.observer — SEC 8-K summary
======================================

Issuer:     EchoStar CORP (SATS)
CIK:        0001415404
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001104659-24-103932
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EchoStar to sell DISH Pay-TV business to DIRECTV for $1.00 plus debt assumption
-------------------------------------------------------------------------------

- EchoStar sells all equity of DISH DBS (Pay-TV) to DIRECTV Holdings for $1.00 plus assumption of net debt.
- Permitted cash transfers to EchoStar pre-closing capped at $1.52B; DBS must retain minimum $400M cash at closing.
- DBS launches exchange offers for its five series of secured/unsecured notes (2026-2029) for new first/second lien notes of equal principal.
- SubscriberCo obtains up to $2.3B term loan facility secured by ~3M DISH TV subscriber contracts and $200M preferred equity.
- EchoStar signs support agreement with >85% of DISH Convertible Note holders to exchange for up to $2.4B senior secured notes and $1.98B convertible notes; also $5.1B new money notes commitment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1415404/000110465924103932/0001104659-24-103932-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1415404/000110465924103932/tm2425160d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-103932

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer