As disclosed in Note 8, as of March 31, 2022 and December 31, 2021, Legacy Airspan had a Subordinated Term Loan with a related party. This related party has an indirect, non-controlling beneficial interest in Fortress, which is the agent and principal lender under the Fortress Credit Agreement and the collateral agent and trustee under the Fortress Convertible Note Agreement and the Convertible Notes. This related party also has an indirect, non-controlling beneficial interest in each holder of Convertible Notes. The Company derived approximately $0.1 million in revenue from sales of products and services to this related party for the three months ended March 31, 2022. The Company had outstanding receivables amounting to $0.4 million from this related party as of December 31, 2021. There were no amounts receivable from this related party as of March 31, 2022.

The Company has an outstanding receivable from and payable to a related party, a stockholder, amounting to $0.5 million and $9.1 million, respectively, as of March 31, 2022 and December 31, 2021, respectively.

In addition, the Company has an outstanding accounts receivable from a separate related party, also a stockholder, amounting to $15.9 million and $11.5 million as of March 31, 2022 and December 31, 2021, respectively. The Company derived approximately $7.3 million and $4.3 million in revenue from sales of products and services to this related party for the three months ended March 31, 2022 and 2021, respectively. A senior executive at this customer is also a member of the Board.

The Company derived revenues from sales of products and services to Dense Air Ltd. (“Dense Air”) amounting to $33 thousand for the three months ended March 31 2021. There were no revenues derived from sales of products and services to Dense Air for the three months ended March 31, 2022.