secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001829126-24-002060
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 1.03, 2.04, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airspan Networks files Chapter 11; up to $95M new equity, eliminates all funded debt
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/0001829126-24-002060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912624002060/airspannetworks_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer