Digital set-top box maker, EchoStar, has terminated its restructuring support agreement with bankrupt telecommunications company, TerreStar Networks, Reuters reports. EchoStar’s offer included a $75 million financing to TerreStar to help it operate while in bankruptcy. EchoStar had also agreed to backstop a $100 million rights offering to help the company emerge from Chapter 11, which has been withdrawn. The debt-for-equity restructuring deal was terminated by mutual consent.
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