Airspan Networks Holdings Inc.: M&A transaction — Airspan closes sale of Mimosa Networks to Radisys/Reliance Jio for $60M cash

Airspan Networks Holdings Inc.

Sold Mimosa Networks to Radisys Corp for ~$60M cash; $600K escrowed for one year for indemnification.
Used $45M of proceeds to repay outstanding debt under 2nd A&R Credit Agreement and Note Purchase Agreement.
Mathew Oommen (President, Reliance Jio) is on Airspan's board; buyer is affiliate of Reliance Jio, also a major customer.
Entered into reseller, transition services, and license agreements with Mimosa post-closing.
Loan and note documents amended to consent to sale, release Mimosa as guarantor, and release security on sold assets.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Airspan Networks Holdings Inc. completed a disposition involving Radisys Corporation for aggregate purchase price of approximately $60 million in cash (closed 2023-08-11).

Action: disposition
Counterparty: Radisys Corporation
Consideration: aggregate purchase price of approximately $60 million in cash
Closing: 2023-08-11

Exact text from the filing

the terms of the Purchase Agreement, ANI sold all of the issued and outstanding shares of common stock of Mimosa to Buyer for an aggregate purchase price of approximately $60 million in cash (subject to customary adjustments as set forth in the Purchase Agreement). The purchase price was determined based on negotiations between Buyer and ANI prior to signing

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Source: SEC EDGAR

accession 0001829126-23-005342

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