--- schema_version: "secwatch.filing_event.v1" accession: "0001829126-24-002060" form_type: "8-K" ticker: null cik: "0001823882" company_name: "Airspan Networks Holdings Inc." filed_at: "2024-04-01T23:59:59+00:00" generated_at: "2026-06-04T04:50:26.593958+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Airspan Networks files Chapter 11; up to $95M new equity, eliminates all funded debt ## Summary - Files prepackaged Chapter 11 with support from 97.4% of funded debt creditors. - Up to $95M in new equity financing; all existing funded debt (~$205M) to be eliminated. - Commits over $53M in DIP financing from Fortress to fund operations during restructuring. - Existing common stockholders receive only pro rata share of $450K cash pool or warrants subject to cap. - Company to become private, majority-owned by Fortress, expects court approval in 30-45 days. ## SEC filing metadata - accession: 0001829126-24-002060 - form_type: 8-K - cik: 0001823882 - company_name: Airspan Networks Holdings Inc. - filed_at: 2024-04-01T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 1.03, 2.04, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/airspannetworks_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001829126-24-002060 - JSON: https://secwatch.observer/filing/0001829126-24-002060.json - Plain text: https://secwatch.observer/filing/0001829126-24-002060.txt ## Key facts - Debt Financings Airspan Networks Holdings Inc. faced acceleration on credit facility with DBFIP ANI LLC. - Instrument: credit facility - Counterparty: DBFIP ANI LLC - Event: acceleration source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - Debt Financings Airspan Networks Holdings Inc. faced acceleration on term loan of approximately $46.4 million with Softbank Group Capital Limited. - Instrument: term loan - Principal: approximately $46.4 million - Counterparty: Softbank Group Capital Limited - Event: acceleration source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - Debt Financings Airspan Networks Holdings Inc. faced acceleration on convertible notes with DBFIP ANI LLC. - Instrument: convertible notes - Counterparty: DBFIP ANI LLC - Event: acceleration source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - Debt Financings Airspan Networks Holdings Inc. faced acceleration on convertible notes of approximately $11.83 million with Golden Wayford Limited. - Instrument: convertible notes - Principal: approximately $11.83 million - Counterparty: Golden Wayford Limited - Event: acceleration source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - Distress & Bankruptcy Airspan Networks Holdings Inc. entered chapter 11 in the Bankruptcy Court for the District of Delaware (petition 2024-03-31). - Proceeding: chapter 11 - Court: the Bankruptcy Court for the District of Delaware - Petition: 2024-03-31 source text: On March 31, 2024, the Company filed voluntary bankruptcy petitions under chapter 11 of title 11 of the United States Code. evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm - Material Agreements Airspan Networks Holdings Inc. entered into Restructuring Support Agreement with Consenting Stakeholders (consenting senior secured creditors, consenting subordinated term loan lenders, and consenting subordinated convertible noteholder) (effective 2024-03-29). - Action: entry - Agreement: credit facility - Counterparty: Consenting Stakeholders (consenting senior secured creditors, consenting subordinated term loan lenders, and consenting subordinated convertible noteholder) - Effective: 2024-03-29 source text: 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”). evidence_url: https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.