Cambium Networks Sells Remaining Business for $5.1M; Company to Dissolve
Cambium Networks Corporation announced the completion of the sale of its remaining business lines and assets by its indirect, wholly-owned subsidiary, Cambium Networks, Ltd. (CNL), to Univastu UK Limited for approximately US$5.1 million. The sale includes product lines such as ePMP, PTP 550, PON, cnRanger, Wi-Fi, switching, and the cnMaestro management platform. Following this divestment, CNL has disposed of substantially all its business lines and operating assets, and Cambium Networks Corporation no longer has any operating subsidiaries. The net proceeds will be used to repay amounts outstanding under the Company's secured credit facility, with no expected distribution to unsecured creditors or shareholders. The Company anticipates CNL will enter liquidation and the Company will subsequently be dissolved.
Key Highlights
- Cambium Networks, Ltd. sold its remaining business lines and assets, including ePMP, PTP 550, PON, cnRanger, Wi-Fi, switching, and cnMaestro, to Univastu UK Limited.
- The sale generated approximately US$5.1 million in cash.
- All net proceeds from the sale will be applied to repay outstanding amounts under the Company's secured credit facility.
- Cambium Networks Corporation no longer has any operating subsidiaries following the sale.
- The Company expects CNL to proceed into liquidation and the Company to be dissolved and wound up.
Price Impact
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