---
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"
generated_at: "2026-06-15T12:55:27.413205+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 3.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-073803
- JSON: https://secwatch.observer/filing/0001104659-26-073803.json
- Plain text: https://secwatch.observer/filing/0001104659-26-073803.txt

## Key facts
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/23197/000110465926073803/0001104659-26-073803-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.