New Beginnings Acquisition filed an S-4 registration outlining terms of its merger agreement with 5G company Airspan Networks.
Pending SEC review and shareholder approval, upon closing the combined company expects to receive approximately $166 million in net proceeds, assuming no redemptions by the SPAC’s existing stockholders, including proceeds from a $75 million PIPE, which has participation from SoftBank Group Capital Limited and Dish Network Corporation, as well as other existing and institutional investors.
Airspan Networks Holdings is expected to list on the NYSE under MIMO. The transaction is expected to close in the third quarter. Read more.
