March 27, 2020 – OneWeb announced that the Company and certain of its controlled affiliates have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company intends to use these proceedings to pursue a sale of its business in order to maximize the value of the company. To date, the Company has successfully launched 74 satellites as part of its constellation, secured valuable global spectrum, begun development on a range of user terminals for a variety of customer markets, has half of its 44 ground stations completed or in development, and performed successful demonstrations of its system with broadband speeds in excess of 400 Mbps and latency of 32 ms. In addition, OneWeb’s commercial team has seen significant early global demand for OneWeb’s high-speed, low-latency connectivity services from governments and leaders in the automotive, maritime, enterprise, and aviation industries.