EchoStar Corporation has announced that holders of its 3.875% Convertible Senior Secured Notes due 2030 can now convert their notes. The conversion period starts on October 1, 2025, and ends at the close of business on December 31, 2025.
The company stated that the notes are convertible into cash, shares of EchoStar’s common stock, or a combination of both, depending on the company’s choice. The decision to allow conversion during this period is based on the terms set out in the indenture governing the notes.
The reason for the notes becoming convertible is that EchoStar’s common stock traded above 130% of the conversion price for at least 20 trading days within a recent 30-day window ending September 30, 2025.
Each $1,000 principal amount of notes can be converted into approximately 29.73507 shares of EchoStar’s common stock. This equates to a conversion price of about $33.63 per share. Holders may choose to convert all or part of their holdings in amounts as small as $1 or multiples thereof.
A notice detailing terms and procedures for conversion has been issued to noteholders through The Depository Trust Company and is also available from The Bank of New York Mellon Trust Company, N.A., which serves as the conversion agent.
The company clarified: “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.”
EchoStar also emphasized that this announcement does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such actions would be unlawful prior to proper registration.
EchoStar provides technology and networking services worldwide under several brands including EchoStar, Boost Mobile, Sling TV, DISH TV, HughesNet and JUPITER. In Europe and Australia it operates under regional subsidiaries.
