{"schema_version":"secwatch.filing_event.v1","accession":"0001829126-23-003579","form_type":"8-K","ticker":null,"cik":"0001823882","company_name":"Airspan Networks Holdings Inc.","filed_at":"2023-05-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.903522+00:00","generated_at":"2026-06-14T21:27:43.559239+00:00","sec_items":["1.01","2.03","3.02","5.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Airspan (MIMO) restructures debt with $25M delayed draw term loans; appoints Glenn Laxdal CEO","bullets":["$25M new delayed draw term loan commitments; initial $10M term loan at Base Rate/SOFR + 9-14%, matures Dec 2024.","Issued 5,912,040 warrants to lenders at $0.01 exercise price, 7.5-year term, exercisable upon certain events.","Convertible notes amended: principal increased to $52.5M (incl. $2.5M fee), interest rate raised to 10% from 7%.","CEO Eric Stonestrom resigns, becomes Executive Chairman; Glenn Laxdal appointed President and CEO, also joins board.","Board expanded from 9 to 10 with Laxdal's appointment."],"urls":{"canonical":"https://secwatch.observer/filing/0001829126-23-003579","json":"https://secwatch.observer/filing/0001829126-23-003579.json","markdown":"https://secwatch.observer/filing/0001829126-23-003579.md","text":"https://secwatch.observer/filing/0001829126-23-003579.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/airspannetworks_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T21:27:43.559239+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0509eb28f1f51ad1c6147787f53b73fe007b98ed","claim":"Airspan Networks Holdings Inc. incurred credit facility of $10 million with DBFIP ANI LLC at plus between 9.00% and 14.00% per annum maturing December 30, 2024.","evidence_excerpt":"The Second A&R Credit Agreement establishes an initial term loan commitment of $10 million (the “Initial Term Loan”), which will accrue interest at a variable rate per annum equal to either the Base Rate (as defined in the Second A&R Credit Agreement) or the Adjusted Term SOFR (as defined in the Second A&R Credit Agreement), plus between 9.00% and 14.00% per annum","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$10 million"},{"label":"Counterparty","value":"DBFIP ANI LLC"},{"label":"Rate","value":"plus between 9.00% and 14.00% per annum"},{"label":"Maturity","value":"December 30, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4b45e4ce8932de8d6fea2016364dce91c7eb6fc0","claim":"Airspan Networks Holdings Inc. incurred credit facility of $25 million with DBFIP ANI LLC.","evidence_excerpt":"terminate the existing delayed draw term loan commitments under the A&R Credit Agreement and establish new delayed draw term loan commitments in the aggregate amount of $25 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$25 million"},{"label":"Counterparty","value":"DBFIP ANI LLC"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"88e24854e2c403f1483c8702514836b5bd014268","claim":"Airspan Networks Holdings Inc. amended convertible notes of $52.5 million with Fortress at 10.00%.","evidence_excerpt":"imposed a $2.5 million fee, which was capitalized to increase the aggregate principal amount of the Convertible Notes to $52.5 million (iv) increase the interest rate applicable to the Convertible Notes to 10.00%","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$52.5 million"},{"label":"Counterparty","value":"Fortress"},{"label":"Rate","value":"10.00%"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"3e22964814","claim":"Glenn Laxdal was appointed as President and Chief Executive Officer at Airspan Networks Holdings Inc..","evidence_excerpt":"On May 16, 2023, the Company’s board of directors (the “Board”) accepted the resignation of Eric Stonestrom as the Company’s Chief Executive Officer effective May 18, 2023 and appointed Glenn Laxdal, previously the Company’s President and Chief Operating Officer, to serve as the Company’s President and Chief Executive Officer effective on May 18, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"b42ff8d6c4","claim":"Eric Stonestrom was appointed as Executive Chairman at Airspan Networks Holdings Inc..","evidence_excerpt":"On May 16, 2023, the Board appointed Mr. Stonestrom as Executive Chairman of the Company effective May 18, 2023","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Executive Chairman"}],"fact_type":"executive_change"},{"claim_id":"ec2bc5fbf4","claim":"Glenn Laxdal was appointed as Director at Airspan Networks Holdings Inc..","evidence_excerpt":"Effective May 18, 2023, the Board expanded the size of the Board from nine directors to ten directors and appointed Mr. Laxdal to serve in a newly created Board position.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"4fbb40d3dba4c3ed75aee6ba50319327cc09ef4c","claim":"Airspan Networks Holdings Inc. entered into Limited Waiver and Consent, Third Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents with Company, Airspan Networks Inc., certain subsidiaries, purchasers, and Fortress as agent valued at Exchange of 2021 Notes for amended Convertible Notes with $52.5 million aggregate principal amount ( (effective 2023-05-18).","evidence_excerpt":"In connection with the Second A&R Credit Agreement, the Company modified the terms of its 7.00% Amended and Restated Senior Secured Convertible Notes (as further amended, amended and restated, restated, supplemented or otherwise modified from time to time prior to the Effective Date, collectively, the “2021 Notes”) and modified the terms of its Senior Secured Convertible Note Purchase and Guarantee Agreement, dated July 30, 2021 (as further amended, amended and restated, restated, supplemented or otherwise modified from time to time prior to the Effective Date, the “Note Purchase Agreement”) pursuant to the Limited Waiver and Consent, Third Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents, dated the Effective Date (the “NPA Amendment”), among the Company, ANI, certain of its subsidiaries as guarantors, the purchasers party thereto and Fortress, as administrative and collateral agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Company, Airspan Networks Inc., certain subsidiaries, purchasers, and Fortress as agent"},{"label":"Value","value":"Exchange of 2021 Notes for amended Convertible Notes with $52.5 million aggregate principal amount ("},{"label":"Effective","value":"2023-05-18"}],"fact_type":"material_agreement"},{"claim_id":"ede585127363a99054a2e8669d389de5c8033e76","claim":"Airspan Networks Holdings Inc. entered into Limited Waiver and Consent, Second Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents with Company, Airspan Networks Inc., certain subsidiaries, lenders, and DBFIP ANI LLC as agent valued at Initial term loan commitment of $10 million, new delayed draw term loan commitments of $25 million, (effective 2023-05-18).","evidence_excerpt":"On May 18, 2023 (the “Effective Date”), Airspan Networks Holdings Inc. (f/k/a New Beginnings Acquisition Corp.), a Delaware corporation (the “Company”) entered into the Limited Waiver and Consent, Second Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents (the “Second Amendment and Restatement Agreement”) among the Company, as Holdings (in such capacity, “Holdings”), Airspan Networks Inc., a Delaware corporation (“ANI”), as the Borrower (in such capacity, the “Borrower”), certain subsidiaries of the Company, as guarantors, the lenders party thereto (collectively, the “Lenders”) and DBFIP ANI LLC (“Fortress”), as administrative agent and collateral agent (together with is successors and assigns in such capacities, the “Agent”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Company, Airspan Networks Inc., certain subsidiaries, lenders, and DBFIP ANI LLC as agent"},{"label":"Value","value":"Initial term loan commitment of $10 million, new delayed draw term loan commitments of $25 million,"},{"label":"Effective","value":"2023-05-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}