Cambium Networks' CNL sells defense business to Airspan for up to $35M; shareholders face complete loss in wind-down

Cambium Networks Corp

Cambium Networks, Ltd (CNL), in administration since Sept. 14, 2026, sold its defense and certain fixed broadband product lines to Airspan for $27.5M cash, completed Sept. 22, 2026.
Airspan also agreed to pay up to $7.5M contingent on 50% of net collections on transferred receivables; $2.5M holdback includes $2.0M post-closing and $0.5M retained 18 months.
Company says no net proceeds will reach it: CNL assets are pledged to Bank of America, and secured debt exceeds sale consideration; no distribution to unsecured creditors or shareholders.
Company expects CNL to enter liquidation, remaining CNL entities to wind down, and Cambium Networks Corporation to be dissolved in the Cayman Islands; warns of complete shareholder loss.
Morgan Kurk resigned from the board on Sept. 24, 2026, not due to disagreement, and retains his role as CEO.

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