Latest achievements include first 5G tower installations,
successful coast-to-coast flight testing of 5G antennas on
aircraft’s belly, interoperability testing using SIMs to the Gogo
5G core
Airspan Networks Inc. (“Airspan”), which provides
ground-breaking, disruptive software and hardware for 5G network
solutions, is helping Gogo deliver 5G technology to business
aircraft. Gogo Business Aviation (NASDAQ: GOGO) (“Gogo”), the
world’s largest provider of broadband connectivity services for the
business aviation market, has achieved several key milestones on
the way to deploying a nationwide 5G air-to-ground (ATG) network,
developing a portfolio of 5G antennas, software and other equipment
in conjunction with Airspan.
Gogo 5G utilizes Airspan’s massive MIMO antennas, which are
tightly integrated for use with Airspan’s OpenRANGE Air5G Sub-6 GHz
Radio Unit (RU) Macros and fully virtualized 5G OpenRANGE vCU and
vDU software. The unique antenna solutions are ruggedized and
proven for harsh environments, and provide a series of critical
features including:
- Advanced beam shaping
- High-precision beam pointing
- Specifically designed beam profiles for air-to-ground
applications with support for link ranges in excess of 300 km/186
miles
- Interference suppression
- Support of Doppler Effect exceeding 3GPP (industry standard)
speeds in excess of 1200 kmh/ 750 MPH
Gogo’s latest achievements and developments for its 5G ATG
network include:
- Installation of the first two 5G antennas from Airspan on a
tower. With the antennas now installed, Gogo will conduct prototype
testing of system performance.
- Completion of coast-to-coast flight testing by Gogo of its 5G
belly-mounted antennas to validate their performance.
- Interoperability testing using Gogo SIM cards connected to the
Gogo 5G core network
Bringing 5G Technology to Aviation
“These key milestones are a great example of how Airspan is
working with leading partners in their field to provide innovative
and unique solutions using 5G,” said Airspan President and CEO Eric
Stonestrom. “We are working closely with Gogo to help them bring 5G
technology to aviation. With aircraft traveling at over 500 MPH and
at 35,000-40,000 feet, there are numerous challenges to provide
reliable connectivity. We believe Airspan engineers are the best in
the industry, which is why Gogo has chosen Airspan as one of its
key 5G partners.”
“The tests we’ve conducted and successfully passed validate what
we modeled when we initially announced we would build a 5G
network,” said Mike Syverson, senior vice president of engineering
for Gogo. “There is a lot of software development to put those
pieces together, and it’s all working very well, as we continue to
work closely with Airspan and our other technology partners to test
and buildout our nationwide ATG network.”
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 believes it 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 statement 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 development of 5G ATG networks and 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/20210629005429/en/
Investor Relations and Media: Howie Waterman 917-359-5505
hwaterman@airspan.com
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