Quarterly report pursuant to Section 13 or 15(d)

THE BUSINESS COMBINATION (Tables)

v3.22.2
THE BUSINESS COMBINATION (Tables)
6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of business combination
       
Cash—Trust Account (net of redemptions of $101 million)   $ 15,184,107  
Cash—Convertible Notes financing     48,669,322  
Cash—PIPE Financing     75,000,000  
         
Less: Underwriting fees and other issuance costs paid at Closing     (23,353,127 )
Cash proceeds from the Business Combination   $ 115,500,302  
         
Less: Non-cash net liabilities assumed from New Beginnings     (38,216 )
Add: Non-cash net assets assumed from New Beginnings     3,684,000  
Less: Non-cash fair value of Common Stock Warrants     (13,176,450 )
Less: Non-cash fair value of Post-Combination Warrants     (1,980,000 )
Less: Non-cash fair value of Convertible Notes issued     (48,273,641 )
Less: Other issuance costs included in accounts payable and accrued liabilities     (3,618,792 )
         
Additional paid-in-capital from Business Combination, net of issuance costs paid   $ 52,097,203  
Schedule of number of shares Common Stock outstanding
       
New Beginnings shares of Common Stock outstanding prior to the Business Combination     14,795,000  
Less: redemption of New Beginnings shares of Common Stock     (9,997,049 )
Shares of Common Stock issued pursuant to the PIPE     7,500,000  
Outstanding New Beginnings shares of Common Stock prior to the Business Combination, plus shares of Common Stock issued in PIPE Financing     12,297,951  
         
Conversion of Legacy Airspan preferred stock     56,857,492  
Conversion of Legacy Airspan common stock     1,182,912  
Conversion of Legacy Airspan restricted common stock     339,134  
Conversion of Legacy Airspan Class B common stock     1,340,611  
Conversion of Legacy Airspan restricted Class B common stock     6,337  
Total shares of Company Common Stock outstanding immediately following the Business Combination     72,024,437