PARIS — OneWeb Global Ltd. plans to conclude the sale of its licensed radio spectrum by late October under a scenario agreed to by the company’s U.S. Chapter 11 bankruptcy court as a condition of making cash immediately available to the company.
The bankruptcy court on April 1 approved OneWeb’s request for $500,000 to spend immediately to keep the business running at a minimal level after the startup broadband satellite constellation operator had laid off 90% of its employees.
Up to $2.5 million . . .
To view the entire article, become a subscriber!