NYSE American to Commence Delisting Proceedings Against Airspan Networks Holdings Inc. (MIMO)

NEW YORK--(BUSINESS WIRE)--NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Airspan Networks Holdings Inc. (the “Company”) — ticker symbol MIMO — from NYSE American. Trading in the Company’s common stock will be suspended immediately.

NYSE Regulation has determined that the Company is no longer suitable for listing and will commence delisting proceedings pursuant to Section 1003(c)(iii) of the NYSE American Company Guide in light of the Form 8-K disclosure on April 1, 2024 that the Company and its U.S subsidiaries have filed on March 31, 2024 voluntary prepackaged Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware. In reaching its delisting determination, NYSE Regulation notes that the Company entered into a Restructuring Support Agreement on March 29, 2024. However, there is uncertainty as to the ultimate effect of this process on the value of the Company’s common stock.

The Company has a right to a review of staff’s determination to delist the common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.