Post-effective amendment to a registration statement that is not immediately effective upon filing

COMMON STOCK AND CONVERTIBLE PREFERRED STOCK (Tables)

v3.21.2
COMMON STOCK AND CONVERTIBLE PREFERRED STOCK (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Schedule of Convertible preferred stock  
                       
Series   Shares Authorized
12/31/2020
    Shares issued and outstanding 12/31/2020     Shares issued and outstanding 12/31/2019  
Convertible Preferred Stock                        
Series B     72,123             72,123  
Series B-1     72,123       72,123        
Series C     416,667             416,667  
Series C-1     416,667       416,667        
Series D     2,142,050       1,080,993       1,450,993  
Series D-1     487,805       325,203       325,203  
Series D-2     2,142,050       370,000        
                         
Senior Convertible Preferred Stock                        
Series E     1,008,742       615,231       615,231  
Series E-1     659,310       393,511       393,511  
Series F     398,401       352,076       352,076  
Series F-1     46,325       46,325       46,325  
Series G     740,987       740,987        
Series G-1     202,100              
Series H     487,806       168,288        
      9,293,156       4,581,404       3,672,129  
Schedule of issuance of convertible preferred stock  
                                       
Description   Shares Issued     Issuance Price
per share
    Conversion Rate (1)     Voting
Rate (2)
    Liquidation Preference
(in thousands)
 
Convertible Preferred Stock                                        
Series B-1     72,123     $ 807.00       1.0           $ 58,203  
Series C-1     416,667     $ 24.00       1.0           $ 10,000  
Series D     1,080,993     $ 61.50       1.0       1.00     $ 66,481  
Series D-1     325,203     $ 61.50       1.0           $ 20,000  
Series D-2     370,000     $ 61.50       1.0           $ 22,755  
                                         
Senior Convertible Preferred Stock                                        
Series E     615,231     $ 91.00       1.04       1.04     $ 55,989  
Series E-1     393,511     $ 91.00       1.04           $ 35,811  
Series F     352,076     $ 107.93       1.755       1.755     $ 38,000  
Series F-1     46,325     $ 107.93       1.755           $ 5,000  
Series G     740,987     $ 61.50       1.0 *     1.00     $ 113,927  
Series H     168,288     $ 61.50       1.0       1.00     $ 10,350  

 

 

* The Series G and G-1 Convertible Preferred Stock have special conversion rights in connection with an IPO or a SPAC merger whereby the Series G Convertible Preferred Stock shall receive shares to at least 2.5 times the amount paid for each preferred share.

Schedule of Warrants issued and outstanding  
                       
    Warrants Outstanding  
    Series D     Series D-1     Series H  
Outstanding as of December 31, 2018     203,252       162,601        
Issuance of warrants                  
Outstanding as of December 31, 2019     203,252       162,601        
Issuance of warrants                 139,428  
Outstanding as of December 31, 2020     203,252       162,601       139,428  
Schedule of fair value of warrant liability  
                       
    Warrant Liability  
(in thousands)   Series D-1     Series H     Total  
As of December 31, 2018   $ 2,272     $     $ 2,272  
(Decrease) in fair value     (1,508 )           (1,508 )
As of December 31, 2019     764             764  
Fair value of warrants at issuance           3,523       3,523  
(Decrease) increase in fair value     3,345             3,345  
As of December 31, 2020   $ 4,109     $ 3,523     $ 7,632  
Schedule of reserved shares of common stock for future  
       
Shares reserved for   Shares  
Future grants     2,660,533  
Convertible preferred stock     4,918,446  
Warrants     505,282  
Options under employee stock plans     1,246,080  
Total common stock reserved for future issuance     9,330,341  
Airspan [Member]    
Schedule of Convertible preferred stock
                       
Series   Shares Authorized
6/30/2021
    Shares issued and outstanding 6/30/2021     Shares issued and outstanding 12/31/2020  
Convertible Preferred Stock                        
Series B     72,123       -       -  
Series B-1     72,123       72,123       72,123  
Series C     416,667       -       -  
Series C-1     416,667       416,667       416,667  
Series D     2,142,050       1,080,993       1,080,993  
Series D-1     487,805       325,203       325,203  
Series D-2     2,142,050       370,000       370,000  
                         
Senior Convertible Preferred Stock                        
Series E     1,008,742       615,231       615,231  
Series E-1     659,310       393,511       393,511  
Series F     398,401       352,076       352,076  
Series F-1     46,325       46,325       46,325  
Series G     740,987       740,987       740,987  
Series G-1     202,100       -       -  
Series H     487,806       181,294       168,288  
      9,293,156       4,594,410       4,581,404  
 
Schedule of Warrants issued and outstanding
                       
    Warrants Outstanding  
    Series D     Series  D-1     Series H  
Outstanding as of December 31, 2020     203,252       162,601       139,428  
Issuance of warrants     -       -       6,503  
Warrants expired     (203,252 )     -       -  
Outstanding as of June 30, 2021     -       162,601       145,931  
 
Schedule of fair value of warrant liability
                       
    Warrant Liability  
(in thousands)   Series D-1     Series H     Total  
As of December 31, 2020   $ 4,109     $ 3,523     $ 7,632  
Fair value of warrants at issuance     -       142       142  
Increase in fair value     3,541       976       4,517  
As of June 30, 2021   $ 7,650     $ 4,641     $ 12,291  
 
Schedule of Issuances of Convertible Preferred Stock
                                       
Description   Shares Issued     Issuance Price
per share
    Conversion Rate     Voting Rate     Liquidation Preference
(in thousands)
 
Convertible Preferred Stock                                        
Series B-1     72,123     $ 807.00       1.0       -     $ 58,203  
Series C-1     416,667     $ 24.00       1.0       -     $ 10,000  
Series D     1,080,993     $ 61.50       1.0       1.00     $ 66,481  
Series D-1     325,203     $ 61.50       1.0       -     $ 20,000  
Series D-2     370,000     $ 61.50       1.0       -     $ 22,755  
                                         
Senior Convertible Preferred Stock                                        
Series E     615,231     $ 91.00       1.04       1.04     $ 55,989  
Series E-1     393,511     $ 91.00       1.04       -     $ 35,811  
Series F     352,076     $ 107.93       1.755       1.755     $ 38,000  
Series F-1     46,325     $ 107.93       1.755       -     $ 5,000  
Series G     740,987     $ 61.50       1.0 *     1.00     $ 113,927  
Series H     181,294     $ 61.50       1.0       1.00     $ 11,150  

  

  * The Series G and G-1 Convertible Preferred Stock have special conversion rights in connection with an initial public offering or a SPAC merger whereby the Series G Convertible Preferred Stock shall receive shares to at least 2.5 times the amount paid for each preferred share.