ENGLEWOOD, Colo., Feb. 12,
2024 /PRNewswire/ -- EchoStar Corporation
(Nasdaq: SATS) ("EchoStar"), a global, fully integrated
communication and content delivery leader and provider of
technology, spectrum, engineering, manufacturing, networking
services, television entertainment and connectivity bolstered by
its merger with DISH Network Corporation ("DISH"), today
announced the expiration and termination of its previously
announced offers to exchange (i) any and all of the 0% Convertible
Notes due 2025 (the "DISH Network 2025 Notes") issued by its
subsidiary DISH and (ii) any and all of the 3.375% Convertible
Notes due 2026 issued by DISH (the "DISH Network 2026
Notes," and together with the DISH Network 2025 Notes, the
"Existing Notes"), each for 10.00% Senior Secured Notes due
2030 to be issued by EchoStar Corporation (the "EchoStar
Notes") and the concurrent consent solicitations, in each case,
pursuant to the terms described in a preliminary prospectus and
consent solicitation statement, dated January 12, 2024.
Each exchange offer and consent solicitation was conditioned
upon, among other things, at least a majority of the outstanding
principal amount of the applicable series of Existing Notes being
validly tendered and not properly withdrawn prior to the expiration
of the applicable exchange offer (the "Minimum Tender
Condition"). The exchange offers and consent solicitations
expired immediately following 11:59 p.m.,
Eastern Time, on February 9,
2024 (the "Expiration Date"). As of the Expiration
Date, holders of the Existing Notes had not tendered sufficient
Existing Notes to meet the Minimum Tender Condition with respect to
either exchange offer. Accordingly, EchoStar terminated the
exchange offers and consent solicitations following the Expiration
Date.
Because the Minimum Tender Condition was not satisfied as of the
Expiration Date, EchoStar will not accept any Existing Notes
tendered for exchange, and all Existing Notes tendered pursuant to
the exchange offers will be promptly returned to their holders. No
consideration will be paid or become payable to holders of the
Existing Notes who tendered their Existing Notes in the exchange
offers.
This press release is for informational purposes only and shall
not constitute an offer to sell nor a solicitation of an offer to
buy any securities in the United
States and shall not constitute an offer, solicitation or
sale of any securities in any jurisdiction where such offering or
sale would be unlawful.
About EchoStar Corporation
EchoStar Corporation
(Nasdaq: SATS) is a premier provider of technology, networking
services, television entertainment and connectivity, offering
consumer, enterprise, operator and government solutions worldwide
under its EchoStar®, Boost Mobile®, Boost Infinite, Sling TV, DISH
TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In
Europe, EchoStar operates under
its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar
Global Australia. For more information, visit www.echostar.com and
follow EchoStar on X (Twitter) and LinkedIn.
Forward-looking Statements
This document contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act, and Section 21E of the Exchange Act, including, in
particular, statements about plans, objectives and strategies,
growth opportunities in our industries and businesses, our
expectations regarding future results, financial condition,
liquidity and capital requirements, estimates regarding the impact
of regulatory developments and legal proceedings, and other trends
and projections. Forward-looking statements are not historical
facts and may be identified by words such as "future,"
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"estimate," "expect," "predict," "will," "would," "could," "can,"
"may," and similar terms. These forward-looking statements are
based on information available to us as of the date hereof and
represent management's current views and assumptions.
Forward-looking statements are not guarantees of future
performance, events or results and involve known and unknown risks,
uncertainties and other factors, which may be beyond our control.
Accordingly, actual performance, events or results could differ
materially from those expressed or implied in the forward-looking
statements due to a number of factors. Additional information
concerning these risk factors is contained in each of EchoStar's
and DISH Network's most recently filed Annual Report on Form 10-K
and subsequent Quarterly Reports on Form 10-Q, and in EchoStar's
subsequent Current Reports on Form 8-K, and other SEC filings. All
cautionary statements made or referred to herein should be read as
being applicable to all forward-looking statements wherever they
appear. You should consider the risks and uncertainties described
or referred to herein and should not place undue reliance on any
forward-looking statements. The forward-looking statements speak
only as of the date made. We do not undertake, and specifically
disclaim, any obligation to publicly release the results of any
revisions that may be made to any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. Should one or more of the risks or
uncertainties described herein or in any documents we file with the
SEC occur, or should underlying assumptions prove incorrect, our
actual results and plans could differ materially from those
expressed in any forward-looking statements.
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SOURCE EchoStar Corporation