Airspan Networks (MIMO) has shared an announcement.
Airspan Networks Holdings Inc. has entered into a Restructuring Support Agreement, initiating a strategic financial reorganization through a prepackaged chapter 11 plan. Although the restructuring aims to provide liquidity and reissue equity interests, there is no guarantee of success. The plan outlines that trade claims will continue to be paid, with new debtor-in-possession financing to support operations. Senior Secured Creditors and Subordinated Term Loan Lenders will receive the majority of the new equity, while existing common stock interests face cancellation with potential for cash payout or warrants. This move is a significant development for Airspan and its stakeholders, reflecting the company’s efforts to navigate financial challenges and stabilize its operations.
Learn more about MIMO stock on TipRanks’ Stock Analysis page.
