OneWeb Secures Additional $1.25B in Financing

Choate represented OneWeb in its recent $1.25 billion financing round led by Japanese tech giant SoftBank. Additional participants included returning investors Grupo Salinas, Qualcomm Technologies, and the government of Rwanda. This is the second financial transaction Choate has represented OneWeb in over the past two years.

This new financing round brings OneWeb’s total funding to $3.4 billion, following a $500 million round in 2015, and a $1.2 billion round in 2016. The financing arrives as OneWeb moves closer to the large-scale production and launch of a first-generation constellation of 648 satellites.

A Choate team led by John Meltaus and Tobin Sullivan, provided legal counsel to OneWeb regarding the equity finance and governance aspects of the transaction.