EchoStar jumps on $17 billion spectrum licenses deal with SpaceX

Telecommunications services firm EchoStar's SATS.O shares jump 46.4% to $98.42 premarket

SATS has entered into a definitive agreement with SpaceX to sell the company's AWS-4 and H-block spectrum licenses for about $17 billion

The deal consists of up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock valued as of the entry into the definitive agreement

Under the agreement, SpaceX will cover about $2 billion in EchoStar's cash interest payments through November 2027

Closing of the proposed transaction will occur after all required regulatory approvals are received and other closing conditions are satisfied - companies

In August, SATS agreed to sell wireless spectrum licenses for $23 billion to AT&T T.N

As of last close, stock nearly tripled this year