Airspan Networks Holdings Inc.: going-concern / distress — Airspan Networks files Chapter 11; up to $95M new equity, eliminates all funded debt

Sixth Amended and Restated Credit Agreement, dated as of March 7, 2024 (as amended, restated, amended and restated, supplemented, modified or replaced, extended or refinanced from time to time), by and among Airspan Networks Inc., the Company, certain subsidiaries of the Company, the lenders party thereto, and DBFIP ANI LLC, as collateral agent and administrative agent

Term Loan Agreement dated as of February 9, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time) by and among Airspan Networks Inc. and Softbank Group Capital Limited with respect to approximately $46.4 million of borrowing, plus accrued and unpaid interest thereon

Senior Secured Convertible Note Purchase and Guarantee Agreement, dated as of July 30, 2021 (as amended, restated, amended and restated, supplemented, modified or replaced, extended or refinanced from time to time), by and among Airspan Networks Holdings Inc., a Delaware corporation, certain of its subsidiaries as guarantors, the purchasers party thereto, DBFIP ANI LLC, a Delaware limited liability company, as collateral agent and administrative agent, and the convertible notes issued thereunder

Amended and Restated Convertible Promissory Note, dated as of November 28, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time), by and between Airspan Networks Inc. and Golden Wayford Limited with respect to approximately $11.83 million of borrowings outstanding, plus accrued and unpaid interest thereon

On March 31, 2024, the Company filed voluntary bankruptcy petitions under chapter 11 of title 11 of the United States Code.

On March 29, 2024, Airspan Networks Holdings Inc., a Delaware corporation (the “Company” or “Airspan”), entered into a Restructuring Support Agreement (including all exhibits thereto, collectively, the “RSA”) with (i) certain of its affiliates and subsidiaries (as set forth in the RSA, and together with the Company, the “Company Parties”); (ii) certain Consenting Senior Secured Creditors, (iii) certain Consenting Subordinated Term Loan Lenders and (iv) certain Consenting Subordinated Convertible Noteholder (as each such term is defined in the RSA, and collectively, other than the Company Parties, the “Consenting Stakeholders”).