Comtech sells satellite/space business to Gilat affiliate for $157.5M; amends credit agreements

COMTECH TELECOMMUNICATIONS CORP /DE/

Base purchase price $157.5M cash; $10M advance paid upon signing; buyer is Wavestream (Gilat affiliate).
Senior credit agreement amended: covenant testing suspended until July 31, 2027; term loan margins fixed at 9.5%/10.5%.
Subordinated lenders get warrants for 625K shares at $0.10 exercise price, vesting Oct 17, 2026.
Series B-3 preferred exchanged for Series B-4 preferred; repurchase right delayed until Oct 2029, cash dividends until Oct 2028.
Magnetar may nominate a director under Director Agreement until preferred liquidation preference >= $20M.

item 1.01 item 1.02 item 2.03 item 3.02 item 3.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

COMTECH TELECOMMUNICATIONS CORP /DE/ entered into Securities Purchase Agreement with Wavestream Corporation valued at $157,500,000 base purchase price in cash; $10,000,000 Advance Payment payable upon execution (effective 2026-06-14).

Action: entry
Agreement: asset purchase
Counterparty: Wavestream Corporation
Value: $157,500,000 base purchase price in cash; $10,000,000 Advance Payment payable upon execution
Effective: 2026-06-14

Exact text from the filing

On June 14, 2026, Comtech Telecommunications Corp. (“Comtech” or the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”), by and among Comtech, certain direct or indirect subsidiaries of Comtech named therein and Wavestream Corporation (the “Buyer”), a Delaware corporation and an affiliate of Gilat Satellite Networks Ltd (the “Buyer Parent”), a company incorporated under the laws of the State of Israel.

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801 material agreements filed in the last 30 days. Browse all material agreements →

COMTECH TELECOMMUNICATIONS CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-26-073803

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