EchoStar shares jump after hiring advisers to explore strategic options

Houlihan Lokey

10/01/2024 18:00

** Shares of EchoStar  SATS.O  surge 38% to $17.47 after
company announced that it had hired advisers to explore
strategic alternatives
    ** Stock, which rose as high as $17.90, is on track for its
biggest daily pct gain on record and highest level since Sept
2023
    ** SATS hired Houlihan Lokey and White & Case LLP as
financial and legal advisors to help it evaluate strategic
alternatives, according to a statement 
    ** SATS also announced the transfer of several wireless
spectrum licenses to a wholly owned subsdiary, EchoStar Wireless
Holding, following the completion of its merger with broadcaster
DISH Network
    ** SATS acquisition of DISH closed on Dec. 31, 2023

 (Reporting by Chibuike Oguh in New York)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))