SoftBank offers $75 million to keep OneWeb Global operating in bankruptcy until asset auction

by Peter B. de Selding

UPDATE April 21: The OneWeb Global Ltd. bankruptcy hearing to approve the SoftBank DIP financing and other short-term financial arrangements for OneWeb is postponed to April 29. It had been scheduled for April 24.

PARIS — OneWeb Global Ltd. has secured the approval of its largest secured creditor, SoftBank Group Corp., for $75 million in fresh cash to permit OneWeb to maintain minimum operations as it seeks to organize an auction of its assets under the administration of a U.S. bankruptcy court.

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