Airspan Networks Holdings Inc. announced that it has entered into a Restructuring Support Agreement with certain funds managed by Fortress Investment Group and several of its other key financial stakeholders to position Airspan for long-term success through up to $95 million of new equity financing and the elimination of all the Company?s existing funded debt. Airspan has received a commitment from Fortress affiliates for over $53 million in debtor-in-possession (?DIP?) financing, which combined with the Company?s cash on hand, is expected to provide sufficient capital during the restructuring process to support Airspan?s operations. The DIP financing is subject to Court approval and the satisfaction of specified closing conditions.

As part of the transaction, Airspan?s existing common stockholders will have the opportunity to receive in exchange for their shares their pro rata share of a total of $450,000 or, at their election, warrants in lieu of cash; provided, that if more than 150 shareholders elect to receive warrants, no warrants will be issued.