ENGLEWOOD, Colo., Jan. 29, 2024 /PRNewswire/ -- EchoStar
Corporation (Nasdaq: SATS) ("EchoStar") today announced that
its subsidiary DISH DBS Issuer LLC ("DBS Issuer") has
elected in its sole discretion to terminate the offers (the
"Exchange Offers") to exchange certain existing senior notes
issued by DISH DBS Corporation (the "Existing DBS Notes") in
the amounts and subject to the terms, in each case, described in
the exchange offer memorandum and consent solicitation statement,
dated January 16, 2024 (the
"Exchange Offer Memorandum") into new senior secured notes
issued by DBS Issuer described in the Exchange Offer Memorandum.
DBS Issuer has also elected in its sole discretion to terminate its
solicitation of consents (the "Consent Solicitations") from
holders of each series of the Existing DBS Notes to amend the terms
of the applicable indentures governing such Existing DBS Notes upon
the terms described in the Exchange Offer Memorandum.
Since the Exchange Offers have been terminated, the exchange
consideration will not be paid or become payable to holders of the
Existing DBS Notes who have validly tendered their Existing DBS
Notes for exchange in connection with the Exchange Offers, and the
Existing DBS Notes tendered for exchange pursuant to the Exchange
Offers will be promptly returned to the tendering holders.
The termination of the Exchange Offers has no effect on the
previously announced exchange offers by EchoStar in respect of DISH
Network Corporation's outstanding 0% Convertible Notes due 2025 and
3.375% Convertible Notes due 2026.
D.F. King & Co., Inc. is acting as exchange agent and
information agent for the Exchange Offers and Consent
Solicitations. You should direct all questions and requests for
assistance at DISH@dfking.com or by calling (800) 967-5084 (U.S.
toll-free) or (212) 269-5550 (banks and brokers).
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,
DISH Network's and DBS's most recently filed Annual Report on Form
10-K and subsequent Quarterly Reports on Form 10-Q, and in
EchoStar's and DBS'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