White & Case Advised EchoStar On US$17 Billion Spectrum Sale And Commercial Agreement With SpaceX

White & Case advised EchoStar on US$17 billion spectrum sale and commercial agreement with SpaceX

Global law firm, White & Case LLP, has advised EchoStar, a premier provider of technology, networking services, television entertainment and connectivity, on its entry into a definitive agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses for approximately US$17 billion, consisting of up to US$8.5 billion in cash and up to US$8.5 billion in SpaceX stock valued as of entry into the definitive agreement. The agreement also provides for SpaceX to fund an aggregate of approximately US$2 billion of cash interest payments payable on EchoStar debt through November 2027.

In connection with the transaction, SpaceX and EchoStar will also enter into a long-term commercial agreement enabling EchoStar's Boost Mobile subscribers, through its cloud-native 5G core, to access SpaceX's Starlink Direct to Cell service.

The White & Case team was led by Michael Deyong (Partner, New York), Jonathan Michels (Partner, New York), Keith Hallam (Partner, New York) and Daniel Dufner (Partner, New York). The team also included A.J. Ericksen (Partner, Houston, Capital Markets), Anna Soroka (Partner, London, Capital Markets), Anthony Tama (Partner, London, Capital Markets), Binoy Dharia (Partner, New York, Debt Finance), Thomas Lauria (Partner, Miami, Financial Restructuring & Insolvency), Matthew Linder (Partner, Chicago, Financial Restructuring & Insolvency), Dilara Erik (Associate, New York, M&A), Eliot Murphy (Associate, New York, M&A), Conor Cannon (Associate, Silicon Valley, M&A), Viraj Bathe (Associate, New York, Debt Finance), Jessy Van Kooten (Associate, New York, Debt Finance), Elizabeth Mapelli (Associate, New York, Capital Markets), David Dreier (Partner, New York, Tax), Adriana Zhan (Partner, New York, Tax) and Daniel Park (Associate, New York, Tax), with support from law clerks Kade Alexander (New York) and Sunrita Sen (Chicago).

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