SOURCE: Airspan Networks, Inc.

June 12, 2007 10:27 ET

Airspan Files Shelf Registration Statement on Form S-3

BOCA RATON, FL--(Marketwire - June 12, 2007) - Airspan Networks, Inc. (NASDAQ: AIRN), a leading worldwide provider of WiMAX and Wi-Fi based broadband wireless access networks, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission to register up to $50 million of Common Stock, Preferred Stock and Warrants or any combination thereof. Any offering will be made at the time and on the terms determined by market conditions at the time of sale. The Company currently intends that the net proceeds of the sale of any of the securities to be registered would be used for general corporate purposes.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers, solicitation of offers to buy, or sales of securities will only be made pursuant to the registration statement filed with and declared effective by the SEC, including the prospectus and related prospectus supplement.

The registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may orders to buy be accepted prior to the time the registration statement becomes effective.

About Airspan Networks, Inc.

Airspan Networks provides wireless voice and broadband data systems and solutions for the fixed and mobile WiMAX and Wi-Fi markets, including Voice Over IP (VoIP). Its wireless products serve operators around the world in both licensed and unlicensed frequency bands between 700 MHz and 6 GHz. Airspan has a strong wireless product roadmap that includes WiMAX Forum Certified equipment and products meeting 802.11 a/b/g Wi-Fi standards, Airspan's HiperMAX and MicroMAX base station products support portable and mobile 802.16e-2005 WiMAX alongside fixed and nomadic 802.16-2004 products. Airspan products also include "self install" and professionally installed customer premise equipment. Airspan is on the Board and is a founder member of the WiMAX Forum and a member of the Wi-Fi Alliance. The Company has deployments in more than 100 countries with more than 400 operators, 100 of which use Airspan's WiMAX Forum Certified and non-certified products. Airspan's wireless systems are based on radio technology that delivers excellent area coverage, high security and resistance to fading. These systems can be deployed rapidly and cost effectively, providing an attractive alternative to traditional wired communications networks. Airspan also offers radio planning, network installation, integration, training and support services to facilitate the deployment and operation of its systems. Airspan is an international telecommunications equipment provider headquartered in Boca Raton, Florida.

More information on Airspan can be found at http://www.airspan.com.

About the WiMAX Forum

The WiMAX Forum® is an industry-led, not-for-profit organization formed to certify and promote the compatibility and interoperability of broadband wireless products based upon the harmonized IEEE 802.16/ETSI HiperMAN standard. A WiMAX Forum goal is to accelerate the introduction of these systems into the marketplace. WiMAX Forum Certified™ products are interoperable and support broadband fixed, portable, nomadic and mobile services. Along these lines, the WiMAX Forum works closely with service providers and regulators to ensure that WiMAX Forum Certified systems meet customer and government requirements.

"WiMAX Forum" is a registered trademark of the WiMAX Forum. "WiMAX," the WiMAX Forum logo, "WiMAX Forum Certified," and the WiMAX Forum Certified logo are trademarks of the WiMAX Forum.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended 31 December, 2006 and quarterly report on Form 10-Q for the period ended 2 April, 2007. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.

Contact Information

  • For Investment and Media Inquiries, contact:

    Airspan Networks, Inc.
    David Brant
    Senior Vice President & Chief Financial Officer
    Airspan Networks, Inc.
    Tel: +1 561 893-8650
    Fax: +1 561 893-8681
    Email: Email Contact