Airspan Announces Successful Confirmation to Receive Up to $95 Million in New Equity Financing and Eliminate all Existing Funded Debt

Airspan Will Become a Private Company with a Strong Balance Sheet and Greater Financial Flexibility Majority-Owned by Fortress

Company Will Have Access to a $20 Million Undrawn Line of Credit

BOCA RATON, Fla.--(BUSINESS WIRE)-- Airspan Networks Holdings Inc. (“Airspan” or the “Company”), a provider of ground-breaking, disruptive software and hardware for 5G networks and a pioneer in end-to-end Open RAN, private network and air-to-ground connectivity solutions, today announced that the United States Bankruptcy Court for the District of Delaware has confirmed its Plan of Reorganization (the "Plan"), positioning the Company for long-term success with a strengthened balance sheet and greater financial flexibility.

Under the terms of the confirmed Plan, Airspan will receive up to $95 million in equity financing, as well as access to a $20 million undrawn line of credit. In addition, Airspan’s existing funded debt will be eliminated. The financial restructuring is expected to be completed in the coming weeks upon receiving final regulatory consents and satisfying certain customary closing conditions, and Airspan will become a private company majority-owned by affiliates of Fortress Investment Group.

“We are pleased to have achieved this important milestone,” said Glenn Laxdal, President and Chief Executive Officer of Airspan. “During the restructuring process, our team was fully focused on serving our customers and partners worldwide, and we will emerge from the process as a stronger company positioned to execute our strategic plan. We thank our employees, customers and vendors for their continued support, and look forward to Airspan’s exciting future.”

Dorsey & Whitney LLP is serving as legal counsel to Airspan. VRS Restructuring Services, LLC is serving as Airspan’s financial advisor and Intrepid Investment Bankers LLC is serving as Airspan’s investment banker. Davis Polk & Wardwell LLP and Richards, Layton & Finger are serving as counsel to Fortress Investment Group.

About Airspan

Airspan Networks Holdings Inc. is a U.S.-based provider of groundbreaking, disruptive software and hardware for 5G networks, and a pioneer in end-to-end Open RAN solutions that provide interoperability with other vendors. As a result of innovative technology and significant R&D investments to build and expand 5G solutions, Airspan believes it is well-positioned with 5G indoor and outdoor, Open RAN, private networks for enterprise customers and industrial use applications, fixed wireless access (FWA), Air-To-Ground, Neutral Host Networks and Utilities solutions to help mobile network operators of all sizes deploy their networks of the future, today. With over one million cells shipped to 1,000 customers in more than 100 countries, Airspan has global scale. For more information, visit

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Any such forward-looking statements are based upon the current beliefs and expectations of Airspan’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond Airspan’s control.

Actual results, performance or achievements may differ materially, and potentially adversely, from any forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond Airspan’s control. For further information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of Airspan’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the US Securities and Exchange Commission. All information set forth herein speaks only as of the date hereof in the case of information about Airspan or the date of such information in the case of information from persons other than Airspan, and Airspan disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

Jonathan Gasthalter/Mark Semer/Grace Cartwright
Gasthalter & Co.
(212) 257-4170

Investor Relations:
Brett Scheiner

Source: Airspan Networks Holdings Inc.