secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K/A
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001829126-23-003784
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airspan secures $25M delayed draw term loan, issues warrants, appoints Glenn Laxdal as CEO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/0001829126-23-003784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623003784/airspannetworks_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-003784

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer