Category: Excellence in commercial deployment by a mobile
network operator
Ratuken Mobile: The world’s first 5G mmWave Open RAN Commercial
Network
Airspan Networks Inc. (“Airspan”), which provides
groundbreaking, disruptive software and hardware for 5G network
solutions, and Qualcomm Technologies Inc., the driving force behind
the development, launch and expansion of 5G, have won the Small
Cell Forum’s Award for their innovative work partnering with
Rakuten Mobile to power its mobile network, which was recognized as
the world’s first fully-virtualized, software-driven mobile network
leveraging mmWave Open RAN small cell architecture. This is the
fourth consecutive year Airspan has been recognized with an award
for excellence and innovation by the Small Cell Forum.
“We are proud to win this award. It demonstrates our strong
focus on innovation and the ability to deploy 5G Open RAN solutions
at scale,” said Airspan CEO Eric Stonestrom. “Qualcomm Technologies
and Rakuten Mobile are great partners, and we look forward to
continuing to collaborate with them to accelerate the adoption of
Open RAN and its ecosystem. Rakuten Mobile has shown tremendous
leadership with their first-to-market fully virtualized Open RAN
network.”
“Tareq Amin, Chief Technology Officer at Rakuten Mobile, and his
team are true visionaries and industry leaders,” said Henrik
Smith-Petersen, Airspan’s Chief Sales and Marketing Officer. “Their
pioneering work in Open RAN technology has provided a tremendous
roadmap for innovation for hundreds of mobile network operators and
vendors to follow.”
Rakuten Mobile’s 5G network was officially launched in September
2020, having deployed thousands of Airspan’s OpenRANGE28 mmWave
outdoor small cells, powered by Qualcomm 5G RAN platform for Small
Cells (FSM100xx), Qualcomm’s industry-leading, cutting-edge
platform for small cells. The partnership with Qualcomm deployed
small cells to build a hyperdense, cloud-native Open RAN network at
massive scale.
“Qualcomm Technologies is pleased to continue our support for
Airspan, which is a leader in shaping the landscape of the thriving
5G market,” said Quinn Li, Senior Vice President of Qualcomm
Technologies, Inc. and global head of Qualcomm Ventures. “Airspan
has been a great strategic collaborator and we are looking forward
to continuing to work together to drive innovation in 5G
technologies.”
About Airspan
Airspan is a US-based provider of ground-breaking, disruptive
software and hardware for 5G networks and a pioneer in end-to-end
Open RAN solutions interoperable with other vendors. As a result of
our innovative technology and significant R&D investments to
build and expand our 5G solutions portfolio, Airspan is well
positioned with Open RAN, private networks, fixed wireless access
(FWA) and CBRS solutions, providing solutions to tier 1 mobile
network operators to deploy their networks of the future, today.
With over 1 million cells shipped to 1,000 customers in more than
100 countries, Airspan has global scale. For more information,
visit www.airspan.com.
In March 2021, Airspan entered into a business combination
agreement with New Beginnings Acquisition Corp. (“NBA”) (NYSE
American: NBA), pursuant to which Airspan will become a
wholly-owned subsidiary of NBA. The closing of the business
combination (the “Business Combination”) with NBA is subject to
customary closing conditions, including shareholder approvals and
the expiration or early termination of the applicable waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended. Upon closing, NBA will be renamed “Airspan
Networks Holdings Inc.” and its common stock is expected to be
listed on the NYSE American with the ticker symbol “MIMO.” See
www.nbaspac.com for more information.
About New Beginnings Acquisition Corp.
New Beginnings Acquisition Corp. (NYSE American: NBA), is
a blank check company formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses. NBA’s
business strategy is to identify and complete its initial business
combination with a company that can benefit from (i) the managerial
and operational experience of its management team, (ii) additional
capital and (iii) access to public securities markets.
Additional Information and Where to Find It
This news release does not contain all the information that
should be considered concerning the proposed Business Combination
and related transactions (the “Proposed Transaction”) and is not
intended to form the basis of any investment decision or any other
decision in respect of the Proposed Transaction. In connection with
the Business Combination, NBA has filed a registration on Form S-4
(the “Form S-4”) with the SEC, which includes a preliminary proxy
statement / prospectus with respect to certain matters upon which
NBA stockholders will be asked to vote. NBA’s stockholders and
other interested persons are advised to read, the preliminary proxy
statement / prospectus and, when available, the amendments thereto
and the proxy statement / prospectus and other documents filed in
connection with the Proposed Transaction, as these materials will
contain important information about Airspan, NBA and the Proposed
Transaction. When available, the definitive proxy statement /
prospectus and other relevant materials for the Proposed
Transaction will be mailed to stockholders of NBA as of a record
date to be established for voting on the Proposed Transaction.
Stockholders will also be able to obtain copies of the preliminary
proxy statement / prospectus, the definitive proxy statement /
prospectus and other documents filed with the SEC, without charge,
once available, at the SEC’s website at www.sec.gov, or by
directing a request to: New Beginnings Acquisition Corp., 800 1st
Street, Unit 1, Miami Beach, FL 33139, USA.
No Offer or Solicitation
This news release is for informational purposes only and is not
intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the Proposed Transaction and is not
intended to and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy or subscribe for any securities or a solicitation of any vote
of approval, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
Participants in Solicitation
NBA, Airspan and their respective directors and executive
officers may be deemed participants in the solicitation of proxies
from NBA’s stockholders with respect to the Proposed Transaction. A
list of the names of those directors and executive officers and a
description of their interests in NBA is contained in the
preliminary proxy statement / prospectus contained in the Form S-4.
Additional information regarding the interests of such
participants, which may, in some cases, be different than those of
NBA and Airspan’s equity holders generally, is also set forth in
the preliminary proxy statement / prospectus contained in the Form
S-4, and will also be included in the definitive proxy statement /
prospectus for the Business Combination when available.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, NBA’s plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning. These
forward-looking statements include, but are not limited to,
statements regarding the likelihood and ability of the parties to
successfully consummate the Proposed Transaction and the timing
thereof. Such forward-looking statements are based upon the current
beliefs and expectations of NBA’s management and are inherently
subject to significant business, economic and competitive
uncertainties and contingencies, many of which are difficult to
predict and generally beyond NBA’s control. Actual results and the
timing of events may differ materially from the results anticipated
in these forward-looking statements.
In addition to factors previously disclosed in NBA’s reports
filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results and the timing of events to differ materially from
the anticipated results or other expectations expressed in the
forward-looking statements: (i) the risk that the proposed
transaction may not be completed in a timely manner or at all,
which may adversely affect the price of NBA’s securities; (ii) the
risk that the transaction may not be completed by NBA’s business
combination deadline and the potential failure to obtain an
extension of the Business Combination deadline if sought by NBA;
(iii) the failure to satisfy the conditions to the consummation of
the Proposed Transaction, including the adoption of the business
combination agreement by the stockholders of NBA and Airspan, the
satisfaction of the minimum trust account amount following
redemptions by NBA’s public stockholders and the receipt of certain
governmental and regulatory approvals; (iv) the lack of a third
party valuation in determining whether or not to pursue the
Proposed Transaction; (v) the occurrence of any event, change or
other circumstance that could give rise to the termination of the
business combination agreement; (vi) the impact of COVID-19 on
Airspan’s business and/or the ability of the parties to complete
the Proposed Transaction; (vii) the effect of the announcement or
pendency of the transaction on Airspan’s business relationships,
performance and business generally; (viii) risks that the proposed
transaction disrupts current plans and operations of Airspan; (ix)
the outcome of any legal proceedings that may be instituted against
Airspan or NBA related to the business combination agreement or the
Proposed Transaction; (x) the ability to maintain the listing of
NBA’s securities on the NYSE American; (xi) the price of NBA’s and
the post-combination company’s securities may be volatile due to a
variety of factors, including changes in the competitive and
regulated industries in which Airspan operates, variations in
performance across competitors, changes in laws and regulations
affecting Airspan’s business and changes in the combined capital
structure; (xii) the ability to implement business plans,
forecasts, and other expectations after the completion of the
Proposed Transaction, and identify and realize additional
opportunities; (xiii) the risk of downturns and the possibility of
rapid change in the highly competitive industry in which Airspan
operates; (xiv) the risk that Airspan and its current and future
collaborators are unable to successfully develop and commercialize
Airspan’s products or services, or experience significant delays in
doing so; (xv) the risk that the post-combination company may not
achieve or sustain profitability; (xvi) the risk that the
post-combination company will need to raise additional capital to
execute its business plan, which may not be available on acceptable
terms or at all; (xvii) the risk that the post-combination company
experiences difficulties in managing its growth and expanding
operations; (xviii) the risk that third-party suppliers and
manufacturers are not able to fully and timely meet their
obligations; (xix) the risk that the rollout and utilization of 5G
technology will not provide the expected benefits; (xx) the risk
that Airspan is unable to secure or protect its intellectual
property; and (xxi) the risk that the post-combination company’s
securities will not be approved for listing on the NYSE American or
if approved, maintain the listing.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any projections and
forward-looking statements and the assumptions on which those
forward-looking statements are based. There can be no assurance
that the data contained herein is reflective of future performance
to any degree. You are cautioned not to place undue reliance on
forward-looking statements as a predictor of future performance as
projected financial information and other information are based on
estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which
are beyond NBA’s control. All information set forth herein speaks
only as of the date hereof in the case of information about NBA and
Airspan or the date of such information in the case of information
from persons other than NBA or Airspan, and we disclaim any
intention or obligation to update any forward-looking statements as
a result of developments occurring after the date of this
communication. Forecasts and estimates regarding Airspan’s industry
and end markets are based on sources we believe to be reliable,
however there can be no assurance these forecasts and estimates
will prove accurate in whole or in part.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210527005890/en/
Investor Relations and Media Contact: Howie Waterman
917-359-5505 hwaterman@airspan.com Media Contact: Paul
Wakefield 011 +44 (0) 1895 467181 pwakefield@airspan.com
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