secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001829126-23-005342
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airspan closes sale of Mimosa Networks to Radisys/Reliance Jio for $60M cash
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623005342/0001829126-23-005342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623005342/airspannetworks_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-005342

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