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MarketScreener Homepage  >  Equities  >  Nasdaq  >  DISH Network Corporation    DISH

DISH NETWORK CORPORATION

(DISH)
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Blank-check firm backed by billionaire Charles Ergen cuts IPO size

10/26/2020 | 05:59am EST

Oct 26 (Reuters) - CONX Corp, a blank-check company led by billionaire Charles Ergen, downsized its initial public offering on Monday, the latest special-purpose acquisition company (SPAC) to cut its offering size in recent weeks.

The company is now looking to raise $750 million, selling 75 million shares at $10 apiece, its regulatory filing https://bit.ly/37I6Jck showed. It had earlier aimed to raise $1 billion.

Ergen is the chairman of satellite TV provider Dish Network Corp and also serves as the chairman of satellite operator EchoStar Corp.

Deutsche Bank Securities is the underwriter for CONX's offering.

Blank-check firm Bluescape Opportunities Acquisition Corp also downsized its offering on Monday, now looking to raise as much as $575 million from an earlier aim of $700 million. (https://bit.ly/3jrtSlz)

Several SPACs like Acies Acquisition Corp, led by former MGM Resorts International CEO James Murren, have downsized their offerings recently, even as others backed by more experienced sponsors continue to see high investor demand for their blank-checks.

Two SPACs backed by venture investor Chamath Palihapitiya upsized their IPOs earlier this month. (Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG -0.91% 9.417 Delayed Quote.37.39%
DISH NETWORK CORPORATION -0.74% 36.16 Delayed Quote.1.95%
ECHOSTAR CORPORATION -3.35% 24.25 Delayed Quote.-44.01%
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Financials (USD)
Sales 2020 15 482 M - -
Net income 2020 1 545 M - -
Net Debt 2020 12 242 M - -
P/E ratio 2020 13,6x
Yield 2020 -
Capitalization 19 019 M 19 019 M -
EV / Sales 2020 2,02x
EV / Sales 2021 1,85x
Nbr of Employees 16 000
Free-Float 46,9%
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Technical analysis trends DISH NETWORK CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 43,12 $
Last Close Price 36,16 $
Spread / Highest target 143%
Spread / Average Target 19,2%
Spread / Lowest Target -33,6%
EPS Revisions
Managers
NameTitle
W. Erik Carlson President & Chief Executive Officer
Charles William Ergen Executive Chairman
John Swieringa COO & Group President-Retail Wireless
Paul W. Orban Chief Financial Officer & Executive Vice President
Atilla Tinic Chief Information Officer & Senior Vice President
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