Finance History|Nasdaq MarketSite — Two Tenths of a Share and SATS Opens
· 2008-1
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Finance History|Nasdaq MarketSite — Two Tenths of a Share and SATS Opens
kevin
People treat EchoStar as an Englewood satellite house that always printed ECHO after a finished merger book.
The January 2008 issuer was EchoStar Holding Corporation, the technology slice cut out of EchoStar Communications Corporation.
A 26 December 2007 Form 10-12B/A said the spin-off would be a pro rata dividend on or about 1 January 2008 and that Class A common had been applied for on the Nasdaq Global Select Market under SATS.
Via Satellite recorded the split effective 1 January 2008. Each EchoStar Communications shareholder received 0.20 of a share of the same class in EchoStar Holding. Regular-way trading began 2 January 2008.
The parent changed its name to DISH Network Corporation and kept the DISH ticker for the pay-television book. EchoStar Holding kept the satellites, uplink centers, set-top boxes, and non-core spectrum.
Bloomberg recorded SATS at 32.59 dollars at 16:00 on the first regular-way session, against a when-issued range of 15 to 19 dollars on 31 December 2007. DISH closed that day at 32.10 dollars.
The mechanism is a tax-free split of a satellite operator into a subscriber book and a hardware-and-spectrum book. Holders received both tapes instead of one combined name.
On 31 December 2023 the two companies merged again, with DISH becoming a wholly owned subsidiary of EchoStar. In June 2026 the surviving Class A ticker was changed from SATS to ECHO.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square, the later face of the electronic market that printed SATS. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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