---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-138929"
form_type: "8-K"
ticker: "AVNW"
cik: "0001377789"
company_name: "AVIAT NETWORKS, INC."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:40:00.295191+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Aviat Networks to acquire NEC's wireless transport business for $70M in cash and stock

## Summary
- Deal valued at $45M cash plus $25M Aviat stock; expected close in Q3 2023.
- Aviat anticipates $150M revenue addition, accretive to adjusted EBITDA and non-GAAP EPS by end of year one.
- Target 11-13% EBITDA margin for acquired business by end of year two; cost synergies from existing channel partnership.
- NEC to appoint a board member to Aviat's board; Aviat secured $90M credit facility (revolver + delayed draw term loan) for financing.
- Existing SVB loan agreement terminated; new credit facility with Wells Fargo, Citigroup, and Regions.

## SEC filing metadata
- accession: 0001193125-23-138929
- form_type: 8-K
- ticker: AVNW
- cik: 0001377789
- company_name: AVIAT NETWORKS, INC.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377789/000119312523138929/0001193125-23-138929-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377789/000119312523138929/d312982d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-138929
- JSON: https://secwatch.observer/filing/0001193125-23-138929.json
- Plain text: https://secwatch.observer/filing/0001193125-23-138929.txt

## Key facts
- Debt Financings
  AVIAT NETWORKS, INC. incurred credit facility of $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility with Wells Fargo Bank, National Association at Adjusted Term SOFR in effect from time to time plus the applicable margin; or th maturing May 8, 2028.
  - Instrument: credit facility
  - Principal: $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Adjusted Term SOFR in effect from time to time plus the applicable margin; or th
  - Maturity: May 8, 2028
  - Event: incurrence
  source text: On May 9, 2023, the Company entered into a Secured Credit Facility Agreement (the “Loan Facility” or the “Credit Agreement”) by and among the Company, Aviat U.S., Inc. (“Opco” and together with the Company the “U.S. Borrowers”,) Aviat Networks (S) Pte. Ltd. (the “Singapore Borrower” and together with the Company and Opco, the “Borrowers”) and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the “Lender”). The Loan Facility provides for a $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility with a maturity date of May 8, 2028.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377789/000119312523138929/0001193125-23-138929-index.htm
- Material Agreements
  AVIAT NETWORKS, INC. entered into Credit Agreement with Wells Fargo Bank, National Association valued at $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility (effective 2023-05-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility
  - Effective: 2023-05-09
  source text: On May 9, 2023, the Company entered into a Secured Credit Facility Agreement (the “Loan Facility” or the “Credit Agreement”) by and among the Company, Aviat U.S., Inc. (“Opco” and together with the Company the “U.S. Borrowers”,) Aviat Networks (S) Pte. Ltd. (the “Singapore Borrower” and together with the Company and Opco, the “Borrowers”) and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the “Lender”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377789/000119312523138929/0001193125-23-138929-index.htm
- Material Agreements
  AVIAT NETWORKS, INC. terminated Third Amended and Restated Loan and Security Agreement with Silicon Valley Bank (effective 2023-05-09).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Silicon Valley Bank
  - Effective: 2023-05-09
  source text: On May 9, 2023, the Company and Silicon Valley Bank (“SVB”) terminated the Third Amended and Restated Loan and Security Agreement dated June 29, 2018, and as amended May 17, 2021 (the “SVB Loan Agreement”), by and between the Company, as borrower, and SVB, as lender, pursuant to a termination letter (the “Termination Letter”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377789/000119312523138929/0001193125-23-138929-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.