New Beginnings Acquisition Corp. operates as a blank check company. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on August 20, 2020 and is headquartered in Miami, FL.
On 3/8/2021 the company announced a pending merger with Airspan Networks, a leading pioneer of 5G network solutions. Assuming no redemptions, the SPAC shareholders will own 17% of the company. The $75 million PIPE at $10.00 per share will own 8%. Valuation is 3x estimated 2021 revenue of $254 million.
$10.16 +0.09 (0.84%)
As of 04/09/2021 16:00:00 EST IEX book CBOE book
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