New Beginnings Acquisition stockholders approved the business combination with 5G company Airspan Networks, the SPAC said.
The closing is expected tomorrow, after which Airspan Networks Holdings stock is expected to list on the NYSE under MIMO.
Neither the SPAC’s press release nor a subsequent 8-K filing mentions redemptions, if any, ahead of the vote.
The combined company expects to receive approximately $166 million in net proceeds, assuming there were 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. Read more.
