SoftBank is a Japanese multinational conglomerate that is expanding its reach into the space industry through Non-Terrestrial Network (NTN) solutions. They are working to provide connectivity from space and the stratosphere, offering services like satellite-based internet via partnerships with companies like Eutelsat OneWeb and Starlink. SoftBank is also investing in High Altitude Platform Stations (HAPS) to deliver connectivity directly to smartphones and other devices, aiming to provide advanced and seamless connectivity services and Digital Transformation (DX) solutions in Japan and around the world. Their partners include Skylo Technologies, OneWeb, and HAPSMobile.
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SoftBank operates a telecoms business in Japan that serves more than 45 million mobile consumer and enterprise subscribers.
SoftBank reported an operating loss of 1,360,000,000,000 JPY ($12,700,000,000) in 2020, its first annual loss in 15 years.
SoftBank’s positive financial results benefited from gains in the company’s $100,000,000,000 Vision Fund and its successor, including gains from Coupang and DoorDash public listings.
OneWeb raised $350,000,000 from SoftBank and $50,000,000 from Hughes in January of 2021.
OneWeb raised $350,000,000 from SoftBank on 2021-01-15 and $50,000,000 from Hughes Network Systems.
SoftBank provided $350,000,000 of OneWeb’s total funding prior to the company’s March 2020 Chapter 11 bankruptcy.
After spinning off, Loon raised $125,000,000 in 2019 from a SoftBank-backed fund.
OneWeb raised $400,000,000 from SoftBank and Hughes Network Systems on 2021-01-15.
SoftBank invested $350,000,000 in OneWeb as part of the 2021-01-15 funding round.
An October Federal Communications Commission notice recorded SoftBank as owning 12.3% of OneWeb after the Chapter 11 filing and 37.41% before the Chapter 11 filing.
SoftBank Group Corp. and Hughes Network Systems LLC provided additional funding that brings OneWeb’s total funding to $1,400,000,000.
SoftBank will hold a 12.3% stake in the reorganized OneWeb and owned 37.41% of OneWeb prior to the Chapter 11 filing.
BidCo 100’s plan approved by the court replaces SoftBank and Grupo Elektra as OneWeb’s interim financial backer and provides up to $50,700,000 in financing to allow work to resume at OneWeb Satellites.
The bankruptcy court authorized OneWeb on 2020-05-01 to borrow up to $300,000,000 under a SoftBank-backed loan.
SoftBank refused to invest more than $2,000,000,000 in OneWeb, driving OneWeb to seek a sale of its spectrum.
SoftBank agreed to lead a $75,000,000 debtor-in-possession loan to OneWeb and provided $2,000,000,000 of the $3,400,000,000 in equity and debt that OneWeb raised before filing for bankruptcy.
SoftBank and other debtor-in-possession lenders agreed to loan OneWeb an additional $15,000,000 if OneWeb secures at least one letter of intent from a spectrum buyer by 2020-05-11.
The $75,000,000 SoftBank-led loan is contingent on OneWeb agreeing to roll up $225,000,000 in prepetition obligations, which would effectively substitute those prior obligations for the debtor-in-possession financing.
SoftBank and other lenders would provide a $25,000,000 tranche once OneWeb obtains a binding purchase agreement for most or all of its spectrum rights, with OneWeb anticipating such an agreement by 2020-06-12.
SoftBank projected 1,800,000,000,000 JPY in losses for its Vision Fund in 2019 and on 2020-04-13 listed OneWeb as one of its most notable losing investments outside that fund.