White & Case advises EchoStar on transformative 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 definitive 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 that will enable EchoStar's Boost Mobile subscribers, through its cloud-native 5G core, to access SpaceX's next generation Starlink Direct to Cell service.

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

White & Case has advised EchoStar on a series of transformative transactions, including advising on its US$23 billion spectrum sale to AT&T in August 2025; its series of financing transactions in October 2024, and its merger with DISH Network in August 2023.

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