Investment company, Amber Infrastructure has sold its stake in Airband after the small UK ISP had been reported to be seeking new funding in June this year.
Airband Community Internet was partially acquired in November 2020 by Aberdeen Standard Investments which was a majority stake holder in the company. Just a year later, in 2021 a £100m debt package was supplied to the company, being sourced from HSBC, Lloyds, Nord LB and Sabadell. However, the original company founders still have a stake in the company.
As we reported in June 2023, the company was said to be seeking some new capital. This sounds like it might be required and this news suggests that Airband might be struggling to obtain funding. The company has ongoing contracts with CDS as well as other areas with targets to meet etc.
We have reached out to Airband for comment.