Airspan, Child of Wall Street SPAC Fad, Wins Fast Bankruptcy
- Company among wave of firms going public in 2021 that flopped
- Builder of private wireless networks has deal to slash debt
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Airspan Networks Holdings Inc. won court approval to try to cut debt in bankruptcy under a quicker-than-normal schedule, putting it on pace for a swift turnaround after becoming the latest financial collapse from the Wall Street SPAC boom.
The company, which helps clients build private wireless networks, blamed its losses on lingering supply-chain disruptions, competitive pressure and the need to spend heavily on research.