The post Elon Musk’s $17 billion deal sends this stock soaring over 20% appeared on BitcoinEthereumNews.com. The shares of American satellite communications firm EchoStar (NASDAQ: SATS) are surging as investors react to its newly announced deal with Elon Musk’s SpaceX. Notably, EchoStar closed at $67.24 on Friday and rose to $80.94 in premarket trading, marking a gain of more than 20%. The rally extends a remarkable run for SATS, which has advanced over 260% in the past year and nearly 190% year to date. SATS one-day stock price chart. Source: Google Finance The momentum came after EchoStar confirmed it had entered into a License Purchase Agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses for about $17 billion.  The transaction includes $8.5 billion in cash, up to $8.5 billion in SpaceX stock, and an additional $2 billion in cash to cover EchoStar’s debt interest through the end of 2027. The deal is expected to close by November 30, 2027. Alongside the spectrum purchase, the companies signed a long-term commercial agreement that will allow EchoStar’s Boost Mobile subscribers to use Starlink’s Direct-to-Cell service. Starlink’s expansion plan  For SpaceX, the acquisition strengthens Starlink’s expansion plans by securing key wireless frequencies that can support satellite-based direct-to-cell connectivity. The move also helps ease U.S. regulatory concerns while positioning Starlink to compete more directly with terrestrial carriers. “We’re so pleased to be doing this transaction with EchoStar as it will advance our mission to end mobile dead zones around the world,” said Gwynne Shotwell, president & COO, SpaceX. Additionally, the deal follows EchoStar’s $23 billion agreement with AT&T in August to sell more spectrum licenses, including nationwide low- and mid-band holdings.  Together, the transactions highlight EchoStar’s strategy to monetize spectrum assets while managing financial pressures tied to 5G deployment deadlines and debt obligations. Featured image via Shutterstock Source: https://finbold.com/elon-musks-17-billion-deal-sends-this-stock-soaring-over-20/The post Elon Musk’s $17 billion deal sends this stock soaring over 20% appeared on BitcoinEthereumNews.com. The shares of American satellite communications firm EchoStar (NASDAQ: SATS) are surging as investors react to its newly announced deal with Elon Musk’s SpaceX. Notably, EchoStar closed at $67.24 on Friday and rose to $80.94 in premarket trading, marking a gain of more than 20%. The rally extends a remarkable run for SATS, which has advanced over 260% in the past year and nearly 190% year to date. SATS one-day stock price chart. Source: Google Finance The momentum came after EchoStar confirmed it had entered into a License Purchase Agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses for about $17 billion.  The transaction includes $8.5 billion in cash, up to $8.5 billion in SpaceX stock, and an additional $2 billion in cash to cover EchoStar’s debt interest through the end of 2027. The deal is expected to close by November 30, 2027. Alongside the spectrum purchase, the companies signed a long-term commercial agreement that will allow EchoStar’s Boost Mobile subscribers to use Starlink’s Direct-to-Cell service. Starlink’s expansion plan  For SpaceX, the acquisition strengthens Starlink’s expansion plans by securing key wireless frequencies that can support satellite-based direct-to-cell connectivity. The move also helps ease U.S. regulatory concerns while positioning Starlink to compete more directly with terrestrial carriers. “We’re so pleased to be doing this transaction with EchoStar as it will advance our mission to end mobile dead zones around the world,” said Gwynne Shotwell, president & COO, SpaceX. Additionally, the deal follows EchoStar’s $23 billion agreement with AT&T in August to sell more spectrum licenses, including nationwide low- and mid-band holdings.  Together, the transactions highlight EchoStar’s strategy to monetize spectrum assets while managing financial pressures tied to 5G deployment deadlines and debt obligations. Featured image via Shutterstock Source: https://finbold.com/elon-musks-17-billion-deal-sends-this-stock-soaring-over-20/