FY2020-2021
OneWeb Fully-Funded with New $500m Investment. Secures $2.4bn in Total Funding
- Bharti Global (Bharti) exercises Call Option under existing shareholders’ agreement to invest an additional $500m
- OneWeb secures funding on anniversary of HMG/Bharti bid
- Company financially secure, with no debt issuance
London, 29 June: OneWeb, the global Low Earth Orbit (LEO) satellite communications company, has secured further fund-raising on the anniversary of the successful bid by UK Government and Bharti Global (Bharti) to purchase OneWeb from US Chapter 11 to bring its total funding to $2.4 billion. OneWeb has completed its transformation with the exercise of a Call Option by Bharti to invest an additional $500m into the company.
Today’s announcement comes as OneWeb prepares for its eighth launch on 1st July, delivering highly anticipated and strategically valuable Arctic region coverage down to 50 degrees latitude.
Today’s announcement comes as OneWeb prepares for its eighth launch on 1st July, delivering highly anticipated and strategically valuable Arctic region coverage down to 50 degrees latitude
The final shareholding structure may alter to the extent a member of the shareholders’ group chooses to exercise a part of this call option.
On completion, OneWeb will have secured $2.4bn of equity investment, with no issued debt.
