logo
Plus   Neg
Share
Email

DISH Network Begins Rights Offering To Raise Proceeds Of About $1 Bln

DISH Network Corp. (DISH) said that it has commenced its rights offering to raise proceeds of about $1 billion.

The company plans to use proceeds from the rights offering for general corporate purposes, including investments in the wireless business.

As per the terms of the rights offering, DISH is commencing distribution of transferable subscription rights pro rata to holders of record of DISH's Class A and B common stock, and outstanding convertible notes as of the record date.

DISH noted that it will distribute one subscription right for each 18.475 shares of DISH's eligible securities that a holder held on the record date. Subscription rights will be rounded down to the nearest whole number and, no fractional subscription rights will be issued. Each subscription right will entitle the holder to acquire one newly-issued share of DISH's Class A common stock at a subscription price of $33.52 per share of Class A common stock.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Back-to-school and college spending is projected to exceed the $100 billion mark for the first time ever ever despite the coronavirus pandemic, according to an annual survey by the National Retail Federation or NRF. The survey released by NRF and Prosper Insights & Analytics projects total spending for K-12 and college combined to reach $101.6 billion in 2020, up from last year's $80.7 billion. U.S. laboratory equipment maker Thermo Fisher Scientific Inc. (TMO) and Netherlands-based Qiagen N.V. (QGEN) announced Thursday that they have entered into an amendment to their acquisition agreement under which Thermo Fisher has commenced a tender offer to acquire all of the ordinary shares of Qiagen. The... Morgan Stanley (MS) reported better-than-expected Q2 results, bolstered by strong trading revenues, amid the COVID-19 pandemic.
Follow RTT