EchoStar Announces Details for Anticipated Completion of Spin-Off and Subsequent Merger of its BSS Business

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[{"type":"text","content":"ENGLEWOOD, Colo., Aug. 9, 2019 /PRNewswire/ -- EchoStar Corporation (NASDAQ:SATS) (\"EchoStar\") announced today details for the anticipated completion of the spin-off and subsequent merger of its BSS Business, which was announced May 20, 2019. EchoStar has set a record date of August 19, 2019 (the \"Record Date\") for the spin-off of that portion of its EchoStar Satellite Services business that manages, markets and provides (i) broadcast satellite services primarily to DISH Network Corporation (NASDAQ:DISH) (\"DISH\"), Dish Mexico, S. de R.L. de C.V. and their respective subsidiaries and (ii) telemetry, tracking and control services to satellites owned by DISH and a portion of EchoStar's other businesses, and certain related assets and operations (the \"BSS Business\").\n\n \nSubject to the satisfaction or waiver of certain closing conditions, on the distribution date for the spin-off, EchoStar will distribute to each holder of shares of Class A or Class B common stock of EchoStar as of the close of business (Eastern time) on the Record Date a number of shares of common stock (\"BSS Common Stock\") of EchoStar BSS Corporation, a wholly-owned subsidiary of EchoStar that will, after an internal restructuring, own and operate the BSS Business (\"BSS Corporation\"), equal to one share of BSS Common Stock for each share of EchoStar Class A or Class B common stock then held by each such EchoStar stockholder (the \"Distribution\"). As previously announced, immediately following the Distribution, a subsidiary of DISH will merge with and into BSS Corporation (the \"Merger\"), and BSS Corporation will continue as a wholly-owned subsidiary of DISH. In the Merger, each EchoStar stockholder as of the close of business (Eastern time) on the Record Date will receive, for each share of BSS Common Stock, a number of shares of DISH Class A common stock equal to 22,937,188 divided by the total number of shares of EchoStar Class A and Class B common stock outstanding as of such time. Based on the number of shares of EchoStar Class A and Class B common stock outstanding on August 8, 2019, EchoStar stockholders would receive approximately 0.24 of a share of DISH Class A common stock for each share of EchoStar Class A or Class B common stock held by such EchoStar stockholder as a result of these transactions. The actual number of shares of DISH Class...

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