Airspan Networks Holdings Announces New Financing And Leadership Changes; Glenn Laxdal, Previously Airspan's President And COO, To Serve As Chief Executive Officer; Eric Stonestrom Will Now Serve As Airspan's Executive Chairman
Portfolio Pulse from Happy Mohamed
Airspan Networks Holdings (NYSE:MIMO) announced new financing agreement with Fortress Investment Group, a new delayed draw term loan of $25 million, and changes in leadership. Glenn Laxdal, previously Airspan's President and COO, will serve as CEO, and Eric Stonestrom will serve as Executive Chairman.
May 18, 2023 | 4:44 pm
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Airspan Networks (MIMO) secured a $25 million financing agreement with Fortress Investment Group and announced leadership changes, positioning the company for future growth.
The new financing agreement provides Airspan with additional capital to pursue its strategic vision in the 5G broadband and enterprise private network markets. The leadership changes, with Glenn Laxdal as the new CEO, bring in experienced management to drive the company's growth. These factors are likely to have a positive short-term impact on Airspan's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100