secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001829126-23-003579
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Airspan (MIMO) restructures debt with $25M delayed draw term loans; appoints Glenn Laxdal CEO
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/0001829126-23-003579-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623003579/airspannetworks_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-003579

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