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financialseismic2026-08-02

Hughes Network Systems files for Chapter 11 bankruptcy

EchoStar's satellite broadband unit files Chapter 11 after missing an August 1 debt deadline, without a pre-negotiated plan.

Hughes Network Systems, EchoStar's satellite broadband subsidiary, filed for Chapter 11 bankruptcy on August 2 in the US Bankruptcy Court for the Southern District of Texas, per Advanced Television. Hughes had $102 million in cash on hand against $1.5 billion in borrowings that matured August 1, and filed without a pre-negotiated restructuring plan. EchoStar's own SEC 8-K, filed the same day, discloses an Item 1.03 bankruptcy event.

Hughes · EchoStar3 sources →
financialseismicupdated 6 Jul2026-06-29

Rocket Lab agrees to acquire Iridium in $8 billion cash-and-stock deal

Rocket Lab agreed to acquire Iridium Communications in a cash-and-stock deal valuing Iridium at about $8 billion enterprise value.

Rocket Lab and Iridium Communications said they signed a definitive agreement for Rocket Lab to acquire all outstanding Iridium common stock, per a joint press release filed as an exhibit to Rocket Lab's 8-K with the SEC on June 29, 2026. Iridium stockholders will receive $27.00 in cash plus Rocket Lab shares under an exchange ratio collared between $67.50 and $112.50, a structure the companies say has a notional value of $54.00 per Iridium share and implies an $8.0 billion enterprise value. Both boards approved the deal unanimously, Rocket Lab has commitments for a $3.6 billion bridge loan from Deutsche Bank and Wells Fargo, and the companies expect to close in mid-2027 subject to Iridium stockholder and regulatory approval. On July 6, 2026, Iridium said it completed its acquisition of the remaining 61% of Aireon, the space-based air-traffic-surveillance venture it did not already own, paying about $367 million to providers in Canada, England, Denmark, Ireland, and Italy, per SpaceNews, consolidating Aireon as a wholly owned subsidiary ahead of the Rocket Lab deal's close.

Rocket Lab · Iridium4 sources →
financialseismic2026-04-14

Amazon agrees to acquire Globalstar in $11.6 billion cash-and-stock deal

Amazon Leo will absorb Globalstar's satellite fleet and direct-to-device spectrum rights in a deal expected to close in 2027.

Amazon agreed April 14, 2026 to acquire Globalstar for up to $90 per share in cash or Amazon stock, a deal worth roughly $11.6 billion, per Amazon's own release. Globalstar shareholders holding about 58% of voting power approved the deal by written consent. Closing is expected in 2027, subject to regulatory approvals and Globalstar meeting satellite-deployment milestones tied to its HIBLEO-4 replacement constellation, with up to $110 million of downward price adjustment if those milestones are missed, per Amazon and IoT Business News. Amazon said it will use Globalstar's direct-to-device spectrum licenses and more than 30 years of low Earth orbit satellite operations expertise to build a next-generation Amazon Leo direct-to-device system. Globalstar CEO Paul Jacobs said the combination "will advance innovations in digital connectivity," and Apple SVP Greg Joswiak noted Apple and Amazon's existing infrastructure relationship, per Amazon's release.

Amazon · Globalstar2 sources →

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