secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K
Filed at:   2023-11-16T23:59:59+00:00
Accession:  0001829126-23-007515
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airspan executes $5M delayed draw term loan, waives defaults, appoints director
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- Third Amendment and Restatement of Credit Agreement provides $5M Third Restatement Delayed Draw Term Loan at SOFR/Base Rate plus 9-14%, maturing Dec 30, 2024.
- Waived specific defaults including overdue amortization payments of $433,362 and $431,643; overdue payments due earlier of strategic transaction close or Dec 31, 2023.
- Special committee reconstituted with Thomas S. Huseby, Michael Flynn, and a future independent director; new covenants on restructuring milestones.
- Director Divya Seshamani resigned effective Nov 9, 2023; Marc Heimowitz appointed as independent director Nov 13, 2023, with $22,500 monthly cash comp for min 5 months.
- Concurrent NPA Fourth Amendment waives certain events of default under convertible note purchase agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623007515/0001829126-23-007515-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912623007515/airspannetworks_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-007515

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