OneWeb Emerges from Bankruptcy
On November 20, OneWeb Communications Ltd. (OneWeb) emerged from the U.S. Chapter 11 bankruptcy process that it initiated in March, announcing the closing of its sale to a new ownership group led by Bharti Global Limited and the UK Government, with each owning approximately 42% of the company. As a result of the restructuring, OneWeb has reduced its debt by roughly $3.4b, including $1.6b in secured debt, and received commitments totaling $1b in new equity.
Read more related news in Space Business Review November 2020.
