--- schema_version: "secwatch.filing_event.v1" accession: "0001829126-24-001538" form_type: "8-K" ticker: null cik: "0001823882" company_name: "Airspan Networks Holdings Inc." filed_at: "2024-03-12T23:59:59+00:00" generated_at: "2026-06-04T23:16:53.054227+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Airspan enters sixth credit agreement amendment, secures $18M delayed draw loan and waives defaults ## Summary - New $18M delayed draw term loan in two tranches ($8M and $10M), matures December 30, 2024. - Loan bears interest at Base Rate or Term SOFR plus 9.00%–14.00% per annum, dependent on leverage. - Lenders waive and forbear from remedies for certain existing defaults until March 24, 2024 or a strategic transaction close. - $3.6M restructuring fee capitalized into the loan proceeds. - Convertible note purchase agreement also amended to extend waivers and forbearance. ## SEC filing metadata - accession: 0001829126-24-001538 - form_type: 8-K - cik: 0001823882 - company_name: Airspan Networks Holdings Inc. - filed_at: 2024-03-12T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1823882/000182912624001538/0001829126-24-001538-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823882/000182912624001538/airspannetworks_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001829126-24-001538 - JSON: https://secwatch.observer/filing/0001829126-24-001538.json - Plain text: https://secwatch.observer/filing/0001829126-24-001538.txt ## Key facts - Debt Financings Airspan Networks Holdings Inc. amended convertible notes with the purchasers party thereto and the administrative and collateral agent. - Instrument: convertible notes - Counterparty: the purchasers party thereto and the administrative and collateral agent - Event: amendment source text: In connection with the Sixth 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, Seventh 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/1823882/000182912624001538/0001829126-24-001538-index.htm - Debt Financings Airspan Networks Holdings Inc. incurred term loan of $18 million with DBFIP ANI LLC, as administrative agent and collateral agent at Base Rate (as defined in the Sixth A&R Credit Agreement) or the Adjusted Term SO maturing December 30, 2024. - Instrument: term loan - Principal: $18 million - Counterparty: DBFIP ANI LLC, as administrative agent and collateral agent - Rate: Base Rate (as defined in the Sixth A&R Credit Agreement) or the Adjusted Term SO - Maturity: December 30, 2024 - Event: incurrence source text: The Sixth A&R Credit Agreement establishes a new delayed draw term loan commitment of an aggregate amount of $18 million, to be drawn in two tranches of $8 million and $10 million (the "Sixth Restatement Delayed Draw Term Loans"), which will accrue interest at a variable rate per annum equal to either the Base Rate (as defined in the Sixth A&R Credit Agreement) or the Adjusted Term SOFR (as defined in the Sixth 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 Sixth A&R Credit Agreement). evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624001538/0001829126-24-001538-index.htm - Material Agreements Airspan Networks Holdings Inc. amended Limited Waiver and Consent, Seventh Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents (the NPA Amendment) with the purchasers party thereto and the administrative and collateral agent (effective 2024-03-07). - Action: amendment - Agreement: notes offering - Counterparty: the purchasers party thereto and the administrative and collateral agent - Effective: 2024-03-07 source text: In connection with the Sixth 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, Seventh 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/1823882/000182912624001538/0001829126-24-001538-index.htm - Material Agreements Airspan Networks Holdings Inc. amended Limited Waiver and Consent, Sixth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents (the Sixth Amendment and Restatement Agreement) with DBFIP ANI LLC, as administrative agent and collateral agent valued at $18 million (effective 2024-03-07). - Action: amendment - Agreement: credit facility - Counterparty: DBFIP ANI LLC, as administrative agent and collateral agent - Value: $18 million - Effective: 2024-03-07 source text: On March 7, 2024 (the “Effective Date”), Airspan Networks Holdings Inc., a Delaware corporation (the “Company”), entered into the Limited Waiver and Consent, Sixth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents (the “Sixth 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/1823882/000182912624001538/0001829126-24-001538-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.