NBA - 5G player Airspan takes the SPAC road

Airspan Networks (AIRO) has entered into a definitive business combination agreement with New Beginnings Acquisition Corp. (NBA) in a combination that is expected to have an enterprise value of nearly $822M.The New Beginnings SPAC will be renamed Airspan Networks Holdings and be listed on the NYSE with the ticker symbol MIMO. The 5G player's outlook: "We believe the wireless industry is poised for rapid deployment of 5G technology. The recent success of the U.S. government’s $80 billion+ C-band spectrum auction demonstrates significant levels of investment from operators and new market entrants... We believe Airspan's sophisticated network equipment infrastructure allows maximum efficiency of wireless spectrum, which is an increasingly expensive and scarce resource. Network operators are also accelerating adoption of virtualization and densification, changing their reliance on proprietary hardware to a focus on software and cloud architecture. These trends are expected to provide Airspan with an opportunity to take market share

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5G player Airspan takes the SPAC road