--- schema_version: "secwatch.filing_event.v1" accession: "0001829126-23-003784" form_type: "8-K/A" ticker: null cik: "0001823882" company_name: "Airspan Networks Holdings Inc." filed_at: "2023-05-26T23:59:59+00:00" generated_at: "2026-06-14T13:18:39.581070+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # Airspan secures $25M delayed draw term loan, issues warrants, appoints Glenn Laxdal as CEO ## Summary - New $25M delayed draw term loan from Fortress; interest rate Base Rate/SOFR plus 9%-14%. - Issued 5,912,040 common stock warrants to lenders at $0.01/share, 7.5-year term. - Convertible notes amended: principal increased to $52.5M, interest rate raised to 10%. - CEO Eric Stonestrom becomes Executive Chairman; Glenn Laxdal appointed CEO and to Board. - Divestiture of Mimosa Networks consented and existing defaults waived under agreements. ## SEC filing metadata - accession: 0001829126-23-003784 - form_type: 8-K/A - cik: 0001823882 - company_name: Airspan Networks Holdings Inc. - filed_at: 2023-05-26T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 1.01, 2.03, 3.02, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/airspannetworks_8ka.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001829126-23-003784 - JSON: https://secwatch.observer/filing/0001829126-23-003784.json - Plain text: https://secwatch.observer/filing/0001829126-23-003784.txt ## Key facts - Debt Financings Airspan Networks Holdings Inc. amended convertible notes of $52.5 million with Fortress at 10.00%. - Instrument: convertible notes - Principal: $52.5 million - Counterparty: Fortress - Rate: 10.00% - Event: amendment source text: 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_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Debt Financings Airspan Networks Holdings Inc. amended credit facility of initial term loan commitment of $10 million with DBFIP ANI LLC at variable rate per annum equal to either the Base Rate or the Adjusted Term SOFR, maturing December 30, 2024. - Instrument: credit facility - Principal: initial term loan commitment of $10 million - Counterparty: DBFIP ANI LLC - Rate: variable rate per annum equal to either the Base Rate or the Adjusted Term SOFR, - Maturity: December 30, 2024 - Event: amendment source text: covenants and (vii) provide for additional fees related to the Second A&R Credit Agreement. 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Executive change Eric Stonestrom resigned as Chief Executive Officer at Airspan Networks Holdings Inc.. - Action: resigned - Role: Chief Executive Officer source text: Eric Stonestrom resigned as the Company’s Chief Executive Officer, effective May 18, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Executive change Glenn Laxdal was appointed as President and Chief Executive Officer at Airspan Networks Holdings Inc.. - Action: appointed - Role: President and Chief Executive Officer source text: 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_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Executive change Glenn Laxdal was appointed as Director at Airspan Networks Holdings Inc.. - Action: appointed - Role: Director source text: 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_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Executive change Eric Stonestrom was appointed as Executive Chairman at Airspan Networks Holdings Inc.. - Action: appointed - Role: Executive Chairman source text: the Board appointed Mr. Stonestrom as Executive Chairman of the Company, effective May 18, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm - Material Agreements Airspan Networks Holdings Inc. entered into Limited Waiver and Consent, Second Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents with DBFIP ANI LLC valued at Second Amended and Restated Credit Agreement establishes initial term loan commitment of $10 million (effective 2023-05-18). - Action: entry - Agreement: credit facility - Counterparty: DBFIP ANI LLC - Value: Second Amended and Restated Credit Agreement establishes initial term loan commitment of $10 million - Effective: 2023-05-18 source text: On May 18, 2023 (the “Effective Date”), 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.