Echostar Corp - SATS STOCK NEWS

EchoStar (NASDAQ: SATS) has scheduled a conference call to discuss its third quarter 2024 financial results on Tuesday, November 12, 2024, at 11 a.m. Eastern Time. The call will be available in listen-only mode through the company's investor relations website. Participants can join via dial-in numbers (877) 484-6065 (U.S.) or (201) 689-8846 using Conference ID 13750022. The financial results will be distributed prior to the call and posted on the company's investor relations website. A webcast replay will be available for 48 hours after the call.

Gogo Business Aviation announced that its Gogo Galileo HDX electronically steerable antenna (ESA) has passed FAA-mandated DO-160 qualification testing. The antenna, designed for business aircraft to access LEO satellite networks, can achieve peak speeds of 60 Mbps. The company plans to launch Gogo Galileo FDX in Q2 2025, offering speeds up to 200 Mbps for larger aircraft. Dealers have contracted 27 STCs covering over 18,000 aircraft globally. The system will connect to Eutelsat OneWeb LEO satellite network and is designed as an upgrade to existing AVANCE systems.

EchoStar (SATS) announced amendments to DISH DBS 's exchange offers for its outstanding notes. The key changes include: decreasing the Discount Amount to at least $1,498,625,000, increasing the Mandatory Exchange Consideration for certain notes, and extending the Expiration Time to November 12, 2024. The exchange offers cover various series of senior secured and senior notes due between 2026 and 2029. As of October 28, 2024, approximately $376 million in aggregate principal amount of notes had been tendered. The exchange offers are conditional upon receiving valid tenders from at least 66 2/3% of eligible holders for each series.

Hughes Network Systems has successfully completed a test flight of its Gogo Galileo HDX Electronically Steerable Antenna (ESA) on a Bombardier Challenger 300. The company plans to release a commercial aviation variant in the first half of 2025. The ESA technology is designed with a low profile and small size for easy integration and maintenance on aircraft of any size. The terminals are manufactured at Hughes' new facility in Germantown, Maryland. The system aims to provide seamless gate-to-gate connectivity for business jet owners using LEO connectivity, leveraging Hughes' 20+ years of aviation connectivity experience.

Hughes Network Systems, an EchoStar company (Nasdaq: SATS), has been named the 2024 Managed Security Service Provider (MSSP) of the Year by CyberSecurity Breakthrough. This award recognizes Hughes as a leading provider of managed network and security solutions for businesses of all sizes.

Hughes offers 24/7 monitoring, threat detection, and response services as an MSSP. The company takes a hands-on approach to safeguard organizations against cyber threats and attacks, creating tailored solutions for each customer's network. Hughes also provides managed SASE (Secure Access Service Edge) and additional security controls such as managed detection and response (MDR), network detection and response (NDR), ransomware and zero-day prevention, and unified threat management (UTM).

The CyberSecurity Breakthrough awards received thousands of nominations from over 20 different countries this year, honoring top companies, technologies, and products in the global information security market.

EchoStar (Nasdaq: SATS) has launched exchange offers for DISH Network 's 0% Convertible Senior Notes due 2025 and 3.375% Convertible Senior Notes due 2026. The offers are part of EchoStar's balance sheet optimization strategy and have gained support from holders representing over 90% of DISH's approximately $5 billion of existing convertible notes, satisfying the minimum tender condition.

The exchange offers include:

• 0% Convertible Notes due 2025: $524.30 of EchoStar Exchange Notes and $400.70 of EchoStar Convertible Notes per $1,000 principal amount
• 3.375% Convertible Notes due 2026: $465.90 of EchoStar Exchange Notes and $400.70 of EchoStar Convertible Notes per $1,000 principal amount

The new EchoStar Notes will be guaranteed by certain subsidiaries and secured by FCC spectrum licenses. The exchange offers and consent solicitations will expire on November 7, 2024, subject to extension.

EchoStar Mobile and Connected have partnered to revolutionize off-grid connectivity across Europe, with plans to expand to the U.S. by late 2024. The collaboration introduces Connected One, an IoT solution that leverages EchoStar's satellite technology to bridge connectivity gaps in remote regions. Under a three-year agreement, EchoStar Mobile will supply its EM2050 modules to Connected, enhancing their product portfolio with direct-to-device satellite communications.

Connected One transforms any smartphone into a satellite-enabled communication tool, allowing users to stay connected and request emergency assistance in areas lacking traditional networks. The device utilizes EchoStar's geostationary satellite, EchoStar XXI, operating over the licensed S-band spectrum with LoRa® technology. Key features include emergency alerts, custom satellite messaging, and location tracking, all managed through the 'One Companion' app.

EchoStar announced a series of transformative transactions, including the sale of DISH DBS to DIRECTV and a comprehensive financing solution. The company will sell its Pay-TV business, including Sling TV, to DIRECTV, creating a combined entity better positioned to invest in services and negotiate with programmers. EchoStar will receive $2.5 billion in new financing from TPG Angelo Gordon and co-investors to address debt maturity and provide interim liquidity.

The company also secured a $5.1 billion capital raise from existing stakeholders for investment in its nationwide 5G Open RAN network. These transactions will help EchoStar refocus its portfolio on growing wireless and satellite connectivity markets, improve its debt maturity profile, and enhance its ability to deploy a nationwide 5G network. The DIRECTV transaction is expected to close in Q4 2025, subject to regulatory approvals and other conditions.

EchoStar (Nasdaq: SATS) announced that DISH DBS has commenced exchange offers for its 5.25% Senior Secured Notes due 2026, 5.75% Senior Secured Notes due 2028, 7.75% Senior Notes due 2026, 7.375% Senior Notes due 2028, and 5.125% Senior Notes due 2029. These will be exchanged for new DBS Notes with similar terms but amended covenants to facilitate the acquisition of DISH Pay-TV Business by DIRECTV Holdings The exchange offers are only available to eligible holders and subject to certain conditions. The new DBS Notes will be secured by first or second-priority liens on DBS and its subsidiaries' tangible and intangible assets. The exchange offers and related consent solicitations will expire on October 29, 2024. If the acquisition is not consummated by December 29, 2025, the new DBS Notes will remain outstanding as separate series. Holders participating in the exchange will receive new DTV Issuer Notes and a cash payment for accrued interest.