--- schema_version: "secwatch.filing_event.v1" accession: "0001829126-23-008326" form_type: "8-K" ticker: null cik: "0001823882" company_name: "Airspan Networks Holdings Inc." filed_at: "2023-12-29T23:59:59+00:00" generated_at: "2026-06-07T06:00:54.385250+00:00" event_type: "debt" sentiment: "negative" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Airspan Networks secures $10M delayed draw term loan, waives defaults, defers debt payments ## Summary - Establishes $10M delayed draw term loan (Fourth Restatement Delayed Draw Term Loan) under Fourth A&R Credit Agreement. - Interest accrues at variable rate (Base Rate or Adjusted Term SOFR) plus 9.00%–14.00% p.a.; matures December 30, 2024. - Waives existing defaults and defers principal and interest payments due Sep 2023–Jan 2024 until earlier of Feb 29, 2024 or strategic transaction close. - Imposes $4M Fourth Restatement Fee, capitalized pro rata on each loan advance. - Modifies Convertible Note Purchase Agreement to waive defaults and defer cash interest payments consistent with credit agreement amendments. ## SEC filing metadata - accession: 0001829126-23-008326 - form_type: 8-K - cik: 0001823882 - company_name: Airspan Networks Holdings Inc. - filed_at: 2023-12-29T23:59:59+00:00 - event_type: debt - sentiment: negative - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1823882/000182912623008326/0001829126-23-008326-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823882/000182912623008326/airspannetworks_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001829126-23-008326 - JSON: https://secwatch.observer/filing/0001829126-23-008326.json - Plain text: https://secwatch.observer/filing/0001829126-23-008326.txt ## Key facts - Debt Financings Airspan Networks Holdings Inc. amended convertible notes with the purchasers. - Instrument: convertible notes - Counterparty: the purchasers - Event: amendment source text: In connection with the Fourth A&R Credit Agreement, the Company modified the terms of its Senior Secured Convertible Note Purchase and Guarantee Agreement, dated July 30, 2021 (as further amended, amended and restated, restated, supplemented or otherwise modified from time to time prior to the Effective Date, the “Note Purchase Agreement”) pursuant to the Limited Waiver and Consent, Fifth Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents, dated the Effective Date (the “NPA Amendment”), among the Company, ANI, certain of its subsidiaries as guarantors, the purchasers party thereto and the administrative and collateral agent. evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623008326/0001829126-23-008326-index.htm - Debt Financings Airspan Networks Holdings Inc. incurred term loan of $10 million with DBFIP ANI LLC at Base Rate or Adjusted Term SOFR plus between 9.00% and 14.00% per annum maturing December 30, 2024. - Instrument: term loan - Principal: $10 million - Counterparty: DBFIP ANI LLC - Rate: Base Rate or Adjusted Term SOFR plus between 9.00% and 14.00% per annum - Maturity: December 30, 2024 - Event: incurrence source text: The Fourth A&R Credit Agreement establishes a new delayed draw term loan commitment of $10 million (the “Fourth Restatement Delayed Draw Term Loan”), which will accrue interest at a variable rate per annum equal to either the Base Rate (as defined in the Fourth A&R Credit Agreement) or the Adjusted Term SOFR (as defined in the Fourth A&R Credit Agreement), plus between 9.00% and 14.00% per annum, which shall be calculated based on the applicable Net EBITDA Leverage Ratio (as defined in the Fourth A&R Credit Agreement). evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623008326/0001829126-23-008326-index.htm - Material Agreements Airspan Networks Holdings Inc. entered into Limited Waiver and Consent, Fourth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents with DBFIP ANI LLC valued at Fourth A&R Credit Agreement establishes new delayed draw term loan commitment of $10 million (effective 2023-12-22). - Action: entry - Agreement: credit facility - Counterparty: DBFIP ANI LLC - Value: Fourth A&R Credit Agreement establishes new delayed draw term loan commitment of $10 million - Effective: 2023-12-22 source text: On December 22, 2023 (the “Effective Date”), Airspan Networks Holdings Inc., a Delaware corporation (the “Company”), entered into the Limited Waiver and Consent, Fourth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents (the “Fourth 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, as administrative agent and collateral agent (together with its successors and assigns in such capacities, the “Agent”). evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912623008326/0001829126-23-008326-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.