UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
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Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
As previously disclosed in our Form 8-K filed on May 28, 2025, EchoStar Corporation (“EchoStar”) received a letter from the Chairman of the Federal Communications Commission (the “FCC”) on May 9, 2025, indicating that the FCC was beginning a review of our compliance with certain of our federal obligations to provide 5G service in the United States and raising certain questions regarding our September 2024 buildout extension and mobile-satellite service (“MSS”) utilization in the 2GHz band (the “Letter”). We responded to the Letter and the related public notices with a filing on May 27, 2025, which is available on the FCC’s website at https://www.fcc.gov/ecfs/document/105280597605377/1 (the “Response”).
The Letter and public notices introduce the possibility of reversing prior FCC grants of authority to us. This uncertainty over our spectrum rights has effectively frozen our ability to make decisions regarding our Boost business, including continued network buildout and adversely impacts our ability to implement and adjust our overall business plan and requires us to re-evaluate the deployment of our resources. In light of this uncertainty, we have elected not to make an approximately $326 million cash interest payment due on May 30, 2025 (the “Interest Payment”) with respect to our 10.75% senior spectrum secured notes due 2029 (the “2029 Spectrum Notes”). Under the indenture governing the 2029 Spectrum Notes (the “2029 Spectrum Notes Indenture”), such non-payment is a default and we have a 30-day grace period to make the Interest Payment before such non-payment constitutes an Event of Default (as such term is defined in the 2029 Spectrum Notes Indenture) with respect to the 2029 Spectrum Notes. The Company has elected not to make the Interest Payment to allow time for the FCC to provide the relief requested in our Response prior to the expiration of the 30-day grace period, so that we may confidently continue investing in our network buildout and expansion of our Boost business and MSS service.
As detailed in our filings with the SEC and FCC, we are confident that we have met, and have fully demonstrated that we have met, all applicable 5G buildout milestones.
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ECHOSTAR CORPORATION DISH NETWORK CORPORATION HUGHES SATELLITE SYSTEMS CORPORATION DISH DBS CORPORATION
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Date: May 30, 2025 | By: | /s/ Dean A. Manson | |
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| Dean A. Manson Chief Legal Officer and Secretary | |
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