“Charlie Ergen’s Echostar Has Struck A Denfinitive Agreement with Elon Musk’s SpaceX to Sell The Company’s AWS-4 AND H-BLOCK SPECTRUM LICENSES FOR APROXIMATELY US to $ 8.5 Billion in SpaceX Stock, The Companies Said on Monday. “Additionally, The Definitive Agreement Provides for SpaceX to Fund an Aggregate of Approximately $ 2 Billion of Cash Interest Payments Payable”, – WRITE: www.hollywoodReporter.com
In Connection with the transaction, SpaceX and echostar Will Enter A Long-Term Commercial Agreement, “Which Will Enable Echostar’s Boost MOBILE SUBSCRIBERS-THROUHHHHHHHHHHHH HACEEX Starlink Direct to Cell Service, “Account to the Companies.
“For The Past Decade, We’ve Acquired Spectrum and Facilitated Worldwide 5G Spectrum Standards and Devices, All With The Foresight that Direct Communicates, ”Said Hamid Akhavan, President and CEO of Echostar. “This Transaction With SpaceX
Continues Our Legacy of Putting The Customer First as It Allows for the Combination of AWS-4 AND H-BLOCK SHOUTRUM FROM ECHOSTAR WITH THE ROCKET LAUNCH and Satellite Capabilites Direct-to-Cell Vision in a More Innovative, Economical and Faster Way for Consumers Worldwide. ”
Said Gwynne Shotwell, President and Coo of SpaceX: “We’re So Pleased to Be Doing This Transaction With Echostar As It Will Advance Our Mission To End Mobile Dead Zones ARONESSEXEX Satellites with Direct to Cell Capabilites have already connected millions of people who the needed ited most – During Natural Disasters soy theo would have previoously been off the Grid. Enhance Coverage for Customers WHEREVERE ARE IN THE WORLD. ”
Echostar said that Iticipates the SpaceX transaction «ALONG with The Previoously Announced Spectrum Sale [to AT&T] Will Resolve the Federal Communications Commission’s (FCC) Inquiries. ”
CLOSING OF THE PROPOSED TRANSACTION IS SUBJECT TO THE REQUIDE REGULATORY APPROVals and “Other Closing Conditions.” ITS PROCEEDS WILL BE USED FOR, AMONG Other Things, “retire Certain Debt Obligations and Funding Echostar’s Continued Operations and Growth Initiats,” The Company SAID. “Current Operations of Echostar’s Dish TV, Sling and Hughes Will Not Be Impacted by This Transaction.”
Echostar Was Represented by White & Case LLP AND STEPTOE & Johnson LLC for this transaction. SpaceX Was Represented by Gibbson Dunn & Crutcher LLP and HWG LLP.
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