secwatch.observer — SEC 8-K summary
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Issuer:     Airspan Networks Holdings Inc. (—)
CIK:        0001823882
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0001829126-24-002444
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 1.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airspan enters $53.8M DIP credit facility in Chapter 11; new money of $7.5M plus $9M delayed draw
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- Total DIP facility of $53.8M: $7.5M initial new money, $9.0M delayed draw, $37.3M roll-up of prepetition debt.
- DIP loan bears interest at Base Rate + 10% or Adjusted Term SOFR + 11%; interest payable in kind.
- Maturity date of October 8, 2024; facility secured by substantially all assets of debtor entities.
- Company filed Chapter 11 on March 31, 2024; DIP financing approved by Bankruptcy Court on April 8, 2024.
- Administrative agent and collateral agent is DBFIP ANI LLC, an affiliate of existing prepetition lender Fortress.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823882/000182912624002444/0001829126-24-002444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823882/000182912624002444/airspannetworks_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002444

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