AI English summary of an SEC filing — figures as filed
EchoStar ECHOEchoStar said it completed its merger with DISH Network Corporation at 11:59 p.m. ET on December 31, 2023, and that 1 shares of DISH Class A and Class C common stock were converted into 0.350877 shares of EchoStar Class A common stock. DISH will survive the merger as a wholly owned subsidiary of EchoStar.
Key points
AI summaryEchoStar said it completed its merger with DISH Network Corporation at 11:59 p.m. ET on December 31, 2023, and that 1 shares of DISH Class A and Class C common stock were converted into 0.350877 shares of EchoStar Class A common stock. DISH will survive the merger as a wholly owned subsidiary of EchoStar.
The company said that at the merger's completion, 1 shares of DISH Class B common stock were converted into 0.350877 shares of EchoStar Class B common stock. DISH stock options and RSUs were also converted into awards covering EchoStar Class A common stock, using the same exchange ratio.
EchoStar said DISH convertible note holders' conversion rights were changed to be based on EchoStar Class A common stock. It said the adjusted conversion rates are 0% for the 4.2677 Notes, 2.375% for the 8.5657 Notes and 3.375% for the 5.3835 Notes. The conversion rights are based on each $1,000 principal amount.
EchoStar said that effective at the merger's completion, its board set the board size at 11 members and appointed 6 directors, including President and Chief Executive Officer Hamid Akhavan. Paul W. Orban was designated as principal financial officer and principal accounting officer of EchoStar.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
DISH Merger Completed; Exchange Ratio 0.350877
EchoStar said it completed its merger with DISH Network Corporation at 11:59 p.m. ET on December 31, 2023, and that 1 shares of DISH Class A and Class C common stock were converted into 0.350877 shares of EchoStar Class A common stock. DISH will survive the merger as a wholly owned subsidiary of EchoStar.
Source · Based on the filing body and exhibits
DISH Class B Conversion and Equity Award Conversion
The company said that at the merger's completion, 1 shares of DISH Class B common stock were converted into 0.350877 shares of EchoStar Class B common stock. DISH stock options and RSUs were also converted into awards covering EchoStar Class A common stock, using the same exchange ratio.
Source · Based on the filing body and exhibits
DISH Convertible Note Conversion Rights Adjusted
EchoStar said DISH convertible note holders' conversion rights were changed to be based on EchoStar Class A common stock. It said the adjusted conversion rates are 0% for the 4.2677 Notes, 2.375% for the 8.5657 Notes and 3.375% for the 5.3835 Notes. The conversion rights are based on each $1,000 principal amount.
Source · Based on the filing body and exhibits
Board Size Set at 11 and Financial Officer Designated
EchoStar said that effective at the merger's completion, its board set the board size at 11 members and appointed 6 directors, including President and Chief Executive Officer Hamid Akhavan. Paul W. Orban was designated as principal financial officer and principal accounting officer of EchoStar.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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