Send
Print
Daniel Oberhaus
As stated in a press release from EchoStar, SpaceX will disburse $8.5 billion in cash along with an equal amount in its stock.
EchoStar plans to utilize the funds from the agreement to reduce debt and support additional expansion. According to the agreement, SpaceX will additionally cover interest on EchoStar's debt totaling around $2 billion until the conclusion of November 2027.
The press release stated that the transaction will finalize upon obtaining all necessary regulatory approvals.
The firms will also establish a long-term business arrangement enabling subscribers of EchoStar's Boost Mobile service to access Starlink satellite internet directly through 5G.
EchoStar stock surged 22% in pre-market trading on Monday, almost tripling in value this year.
In late August, EchoStar, a company specializing in satellite communications and digital infrastructure, revealed its decision to sell its spectrum licenses to AT&T Inc. for approximately $23 billion.
source: reuters.com
EchoStar plans to utilize the funds from the agreement to reduce debt and support additional expansion. According to the agreement, SpaceX will additionally cover interest on EchoStar's debt totaling around $2 billion until the conclusion of November 2027.
The press release stated that the transaction will finalize upon obtaining all necessary regulatory approvals.
The firms will also establish a long-term business arrangement enabling subscribers of EchoStar's Boost Mobile service to access Starlink satellite internet directly through 5G.
EchoStar stock surged 22% in pre-market trading on Monday, almost tripling in value this year.
In late August, EchoStar, a company specializing in satellite communications and digital infrastructure, revealed its decision to sell its spectrum licenses to AT&T Inc. for approximately $23 billion.
source: reuters.com
