All verified mentions of this organization in source documents.
OneWeb filed a proposal with the U.S. Federal Communications Commission in May seeking to increase its constellation by 48,000 satellites.
The British government and Bharti Global will provide $1,000,000,000 in new funding to recapitalize OneWeb pending approval by a U.S. bankruptcy court at a 2020-07-10 hearing.
The British government will lead a consortium with Bharti to complete the purchase of OneWeb, which is expected to close in the fourth quarter of 2020 subject to approval by the U.S. Bankruptcy Court for the Southern District of New York.
OneWeb Satellites is a joint venture of OneWeb and Airbus tasked with building OneWeb’s satellite constellation.
OneWeb had previously raised $3,400,000,000 in equity and debt to fund its broadband constellation.
OneWeb secured $1,000,000,000 in new funding consisting of $500,000,000 from the British government and $500,000,000 from Bharti Global to recapitalize its constellation effort.
Bharti Global is expected to provide commercial and operational leadership to OneWeb and to leverage revenue from its base of more than 425 million customers.
The British government and Indian mobile network operator Bharti Global placed the winning bid to acquire OneWeb following OneWeb’s Chapter 11 bankruptcy filing in March 2020.
Richard Franklin, managing director of Airbus Defence and Space U.K., is eager to work with OneWeb to grow the UK contribution to the business and support the next phase of OneWeb’s operations.
OneWeb filed for Chapter 11 bankruptcy protection in March 2020, halting a planned cadence of launches.
MDA remains ready to support OneWeb’s antenna program despite OneWeb filing for Chapter 11 bankruptcy protection in March 2020.
OneWeb filed for Chapter 11 bankruptcy protection in March after launching 74 of a planned 650 satellites.
OneWeb submitted plans with the Federal Communications Commission on 2020-05-27 to increase its constellation by 48,000 satellites.
The bankruptcy court authorized OneWeb on 2020-05-01 to borrow up to $300,000,000 under a SoftBank-backed loan.
OneWeb failed to raise enough funding to complete its envisioned constellation of 650 small broadband satellites.
OneWeb and its debtor-in-possession lenders developed a second program to provide up to $7,000,000 in further payments to incentivize current employees to go above and beyond in connection with the sales process.
OneWeb reduced its headcount from 531 employees to 74 in March shortly before filing for Chapter 11 bankruptcy protection.
OneWeb is asking the United States Bankruptcy Court for the Southern District of New York for permission to issue up to $8,800,000 in worker retention and incentive payments to discourage remaining employees from quitting before a spectrum sale.
OneWeb proposed spending $1,800,000 in additional retention payments payable in tranches in June, September, and December.
OneWeb has 74 satellites in low Earth orbit using Ku-band and Ka-band frequencies.