EchoStar Corporation (NASDAQ: SATS) Announces Additional Conversion Period for Convertible Notes
EchoStar Corporation, traded on NASDAQ under the symbol SATS, has made a significant announcement concerning its 3.875% Convertible Senior Secured Notes due 2030. Starting January 1, 2026, holders of these Notes will have the option to convert them, which will be available until the close of business on March 31, 2026. This convertible option allows holders to exchange their Notes for cash, common stock, or a combination of both, based on the Company's discretion.
Details of the Convertible Notes
The conversion feature of the Notes was triggered due to the last reported sale price of the Company's common stock exceeding 130% of the conversion price during a specific trading period. This evaluation covers at least 20 trading days out of a 30-day stretch, concluding with the last trading day of the calendar quarter ending December 31, 2025.
At the conversion rate, holders can receive 29.73507 shares of common stock per $1,000 principal amount of Notes, translating to a conversion price of approximately $33.63 per common share. Investors can surrender their Notes in increments of at least $1.00 along with integral multiples of this amount.
Conversion Process and Resources
EchoStar has dispatched a notice outlining the terms, conditions, and procedures related to this Conversion Option. Holders can access this notice via The Depository Trust Company or can request a copy from:
- The Bank of New York Mellon Trust Company, N.A.
- 601 Travis Street, 16th Floor
- Houston, TX 77002
- Attn: Rafael Martinez
It is crucial to note that neither EchoStar Corporation, its Board of Directors, nor its employees are advising holders on whether to exercise this Conversion Option.
Important Legal Notice
This announcement should not be interpreted as an offer to sell or a solicitation to purchase securities. No sales of these securities will occur in any jurisdiction where such an offer or solicitation would be unlawful before registration or qualification under applicable state securities laws.
About EchoStar Corporation
EchoStar Corporation, symbolized as SATS, is a leading provider of technological, networking, and entertainment services. The Company offers a variety of solutions for consumers, enterprises, government agencies, and operators globally, featuring brands such as EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™. In Europe, its services are provided through EchoStar Mobile Limited, while in Australia, it operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow the Company on X (Twitter) and LinkedIn.