July 29, 2021 – OneWeb 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. The Call Option is expected to be completed in the second half of 2021, subject to regulatory approvals. On completion of the Call Option and with Eutelsat’s $550m investment, Bharti will hold 38.6%. The UK Government, Eutelsat, and Softbank will each own 19.3%. 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.