Airspan Announces Delisting From NYSE American
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- Airspan Networks Holdings Inc. is facing delisting from NYSE American, as announced by NYSE Regulation. The trading of the Company's common stock has been suspended effective April 1, 2024, and there are no plans to appeal the decision. NYSE Regulation cited that the Company's common stock is no longer suitable for listing, leading to delisting proceedings under Section 1003(c)(iii) of the NYSE American Company Guide.
The suspension of trading and the initiation of delisting proceedings for Airspan Networks Holdings Inc. by NYSE Regulation represents a significant event with potential implications for the company's financial standing and investor relations. Delisting often occurs due to non-compliance with exchange requirements, which could include financial viability, shareholder equity, or market capitalization thresholds. The immediate effect on the stock market is the halt of public trading, which can lead to liquidity issues for current shareholders and challenges in raising capital for the company.
Long-term implications might include diminished visibility among investors and potential difficulties in securing funding. For a company specializing in 5G and Open RAN technology, access to capital markets is vital for sustaining R&D and staying competitive. Investors should monitor the company's response, such as seeking listing on alternative exchanges or private funding sources, which could mitigate some negative impacts of delisting.
The delisting of Airspan Networks from NYSE American could have broader implications within the telecommunications sector, especially for a company that claims to be a pioneer in the 5G and Open RAN space. Such technologies are critical as they enable more flexible and interoperable network architectures, a departure from traditional, proprietary systems. Open RAN, in particular, is gaining traction as it allows for a more vendor-neutral approach, potentially lowering costs and fostering innovation.
However, the delisting raises questions about Airspan's operational performance and market confidence. It could signal to customers and partners a need for caution, possibly affecting business contracts and future collaborations. Competitors might capitalize on this perceived instability, potentially impacting Airspan's market share and influence in the sector.
From a market research perspective, the delisting of Airspan Networks may reflect underlying industry trends or company-specific challenges. It's essential to understand the context of this delisting within the competitive landscape of the telecom industry. For instance, if this event is indicative of a larger pattern of difficulty among companies in the 5G space, it could signal a market correction or consolidation phase.
Alternatively, if the delisting is primarily due to company-specific financial or compliance issues, it may not have a broad market impact but still serves as a cautionary tale for other firms regarding the importance of meeting regulatory and financial standards. Stakeholders should examine the company's strategic moves post-delisting, such as potential restructuring, partnerships, or shifts in business models, which could provide insights into the company's resilience and adaptability.
NYSE Regulation determined that the Company’s common stock is no longer suitable for listing and will commence delisting proceedings pursuant to Section 1003(c)(iii) of the NYSE American Company Guide.
About Airspan
Airspan Networks Holdings Inc. is a
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 the potential outcome and timing of the delisting of the Company’s common stock, 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. Any such forward-looking statements are based upon the current beliefs and expectations of Airspan’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 Airspan’s control.
Actual results, performance or achievements may differ materially, and potentially adversely, from any 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 Airspan’s control. For further information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of Airspan’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the US Securities and Exchange Commission. All information set forth herein speaks only as of the date hereof in the case of information about Airspan or the date of such information in the case of information from persons other than Airspan, and Airspan disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240404958053/en/
Media:
Jonathan Gasthalter/Mark Semer/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
Airspan@gasthalter.com
Investor Relations:
Brett Scheiner
561-893-8660
IR@airspan.com
Source: Airspan Networks Holdings Inc.
