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DISH closes rights offering to raise $1B

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DISH closes rights offering to raise $1B

DISH Network Corp. completed its previously announced rights offering to raise about $1 billion.

Of the 29,834,992 newly issued shares of DISH's class A common stock, about 81% of the shares were issued through the exercise of the subscription rights and about 19% of the shares were issued through DISH Chairman Charles Ergen's standby purchase commitment, according to a Dec. 13 news release.