{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-073803","form_type":"8-K","ticker":"CMTL","cik":"0000023197","company_name":"COMTECH TELECOMMUNICATIONS CORP /DE/","filed_at":"2026-06-15T12:51:49+00:00","discovered_at":"2026-06-15T12:55:00.540927+00:00","generated_at":"2026-06-15T12:55:27.413205+00:00","sec_items":["1.01","1.02","2.03","3.02","3.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Comtech sells satellite/space business to Gilat affiliate for $157.5M; amends credit agreements","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-073803","json":"https://secwatch.observer/filing/0001104659-26-073803.json","markdown":"https://secwatch.observer/filing/0001104659-26-073803.md","text":"https://secwatch.observer/filing/0001104659-26-073803.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/23197/000110465926073803/0001104659-26-073803-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/23197/000110465926073803/tm2617923d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T12:55:27.413205+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ab934d24cf78f06e882cc8ef384a271fcbe3c02f","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/23197/000110465926073803/0001104659-26-073803-index.htm","confidence":0.98,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Wavestream Corporation"},{"label":"Value","value":"$157,500,000 base purchase price in cash; $10,000,000 Advance Payment payable upon execution"},{"label":"Effective","value":"2026-06-14"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}