EchoStar 10-Q, filed Aug 3, 2026

Summary

EchoStar subsidiary DISH DBS Corporation and certain subsidiaries including DISH Wireless commenced prepackaged Chapter 11 cases on June 30, 2026 in the U.S. Bankruptcy Court for the Southern District of Texas to implement a restructuring support agreement reached March 19, 2026 with creditors holding more than 88% of DISH DBS's secured and unsecured notes. EchoStar, which is not a debtor, deconsolidated the filing entities effective June 30, 2026, and its 6 5/8% unsecured senior notes due 2026 with about $750 million outstanding mature August 1, 2026, with issuer HSSC stating it lacks the cash, cash flows, or committed financing to fund the obligation.

Key points

• On July 28, 2026, concurrently with the AT&T closing, DISH Network satisfied in full roughly $2.844 billion outstanding under the DISH 2021 Intercompany Loan 2028 Tranche and redeemed in full the $3.5 billion principal balance of its 11 3/4% senior secured notes due 2027.
• EchoStar expects to fund its approximately $45 million of 3 3/8% convertible notes due August 15, 2026 from existing cash and marketable securities balances and cash generated from the AT&T and SpaceX transactions.
• During the six months ended June 30, 2026, EchoStar repaid about $202 million of its Term Loan due 2029 and mandatorily redeemable preferred shares due 2029, and on March 16, 2026 prepaid the remaining roughly $1.6 billion balance without penalty.
• The Chapter 11 cases are intended to facilitate a transition of the legacy DISH Wireless business infrastructure, including decommissioning of the facilities-based 5G network, and management cited risks of creditor claims against EchoStar, customer churn at DISH TV and Sling TV, and materially different reported results after deconsolidation.

Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.