DISH Network Announces Convertible Notes Placement
March 10 2017 - 6:15AM
Business Wire
DISH Network Corporation (“DISH Network”) (NASDAQ: DISH) today
announced that it plans to issue and sell, subject to market and
other conditions, $1 billion aggregate principal amount of
convertible notes (the “notes”). The net proceeds of the placement
are intended to be used for strategic transactions, which may
include wireless and spectrum-related strategic transactions, and
for other general corporate purposes.
The notes will be unsecured obligations of DISH Network. Upon
any conversion, DISH Network will settle its conversion obligation
in cash, shares of its Class A Common Stock, or a combination of
cash and shares of its Class A Common Stock, at its election. The
interest rate, the initial conversion rate, and other terms and
conditions of the notes will be determined by negotiations between
DISH Network and the purchasers of the notes.
The notes will only be offered and sold to institutional
accredited investors that are also qualified institutional buyers
on a private placement basis pursuant to Section 4(a)(2) of the
Securities Act of 1933, as amended (the “Securities Act”). The
notes and shares of DISH Network’s Class A Common Stock issuable
upon the conversion of the notes, if any, have not been and are not
intended to be registered under the Securities Act or the
securities laws of any other jurisdiction. The notes may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy any of the notes; nor shall there be any sale of
these notes in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Except for historical information contained herein, the matters
set forth in this press release are forward-looking statements. The
forward-looking statements set forth above involve a number of
risks and uncertainties that could cause actual results to differ
materially from any such statement, including the risks and
uncertainties discussed in DISH Network’s Disclosure Regarding
Forward-Looking Statements included in its recent filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K. The forward-looking statements speak only as of the date
made, and DISH Network expressly disclaims any obligation to update
these forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170310005304/en/
DISHMedia:Bob Toevs,
303-723-2010bob.toevs@dish.com@DISHNewsorInvestor:Jason Kiser,
303-723-2210jason.kiser@dish.com
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