SpaceX plans to acquire more spectrum licenses of EchoStar Corporation Class A (SATS.US) for $2.6 billion in stock.

EchoStar Corporation Class A (SATS.US) has agreed to revise its final agreement with SpaceX to sell its unmatched AWS-3 spectrum licenses at a price of $2.6 billion in SpaceX stock. This transaction is based on the original agreement reached between the two companies in September. Hamid Akhavan, CEO of EchoStar Corporation Class A Capital (EchoStar Capital), stated, "This collaboration with SpaceX, along with the spectrum deals and commercial agreements we have previously announced, will enhance EchoStar Corporation Class A's ability to pursue new business opportunities and create value growth for shareholders." In September of this year, EchoStar Corporation Class A had agreed to sell its AWS-4 and H-band spectrum licenses to SpaceX for approximately $17 billion, split into a maximum of $8.5 billion in cash and $8.5 billion in SpaceX stock. With the addition of these unmatched AWS-3 spectrum licenses, combined with the AWS-4 and H-band spectrum licenses previously acquired, SpaceX will develop and deploy the next generation Starlink Direct to Cell constellation system. The proposed transaction is expected to be completed after obtaining all necessary regulatory approvals and meeting other closing conditions. The existing operations of EchoStar Corporation Class A's subsidiaries, DISH TV, Sling TV, Boost Mobile, and Hughes, will not be affected by this transaction. In pre-market trading, EchoStar Corporation Class A's stock price fell slightly by 0.03% to $72.3.