Cambium Sells Last Business to Univastu for $5.1M; Warns Shareholders of Complete Loss

summarizeSummary

Cambium sold its remaining business and all operating subsidiaries to Univastu for about $5.1M, with all proceeds going to Bank of America. The company says it has no operating subsidiaries left and shareholders should expect a complete loss.

check_boxKey Events · M&A and Partnerships · CMBM

• Remaining Business Sold for $5.1M

  CNL (in administration) sold the remaining product lines — ePMP, PTP 550, PON, cnRanger, Wi-Fi, switching, NSE and cnMaestro — plus all Group Subsidiaries to Univastu UK Limited for approximately US$5.1M cash, including a US$0.3M non-refundable deposit already paid. The sale completed simultaneously with signing and had no closing conditions.

• No Proceeds Reach the Company

  Substantially all CNL assets are pledged to Bank of America, and the secured claim exceeds the combined proceeds of this sale and the $27.5M Airspan sale. After administration costs, all net proceeds go to the lender; nothing is expected for unsecured creditors or shareholders.

• No Operating Subsidiaries Remain

  Transfer of Cambium Networks, Inc. and the India, Mexico, China, Hong Kong, Colombia, Brazil, Netherlands, Argentina, Singapore and South Africa subsidiaries leaves the parent with no operating businesses.

• Liquidation and Dissolution Expected

  The company expects CNL to move from administration into liquidation and the Cayman parent to be dissolved and wound up. The filing cautions that the ordinary shares are highly speculative and holders should expect a complete loss.

auto_awesomeAnalysis · CMBM · Manufacturing

This is the end of the line for Cambium as an operating company. The UK administrators sold the remaining product lines — ePMP, PTP 550, PON, cnRanger, Wi-Fi, switching, NSE and the cnMaestro platform — plus every operating subsidiary to Univastu for about $5.1 million, and the deal closed on the spot with no conditions. None of that cash reaches the company: the assets were pledged to Bank of America, whose secured claim exceeds the combined proceeds of this sale and the earlier $27.5M Airspan defense sale, so unsecured creditors and shareholders get nothing. With no operating subsidiaries left, management expects the UK entity to move into liquidation and the Cayman parent to be dissolved. The filing states plainly that holders should expect a complete loss — the equity is a wind-down instrument now, not a business.