EchoStar Corporation has announced that holders of its 3.875% Convertible Senior Secured Notes due 2030 may convert their notes beginning October 1, 2025, through December 31, 2025. The company stated that holders can convert their notes into cash, shares of EchoStar’s common stock, or a combination of both, at the company’s discretion.
The eligibility for conversion was triggered because the last reported sale price of EchoStar’s common stock exceeded 130% of the conversion price for at least 20 trading days within a consecutive 30-day period ending September 30, 2025.
The conversion rate is set at 29.73507 shares per $1,000 principal amount of notes, which equates to a conversion price of approximately $33.63 per share. Holders may convert all or part of their notes in principal amounts of at least $1.00 or in multiples thereof.
EchoStar has sent a notice to noteholders outlining the terms and procedures for conversion. The notice is accessible via The Depository Trust Company or by contacting The Bank of New York Mellon Trust Company, N.A., which serves as the conversion agent.
The company emphasized: “None of the Company, its Board of Directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or refrain from exercising the Conversion Option.”
The announcement clarified that it does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where such actions would be unlawful.
EchoStar Corporation provides technology and connectivity services under several brands worldwide, including DISH TV and Boost Mobile. More information about the company can be found on its website.
