WeWork Agrees to SPAC Deal That Would Take Startup Public
Summary
Planned merger with the BowX Acquisition would value WeWork at $9 billion including debt
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Times of India
WeWork takes SPAC route to go public in $9 billion deal - ET RealEstate
It marks a steep drop from the $47 billion that WeWork was valued for a listing in 2019, ahead of a botched listing plan that imploded due to investor..
WeWork agrees to go public via $9 billion SPAC deal
The company disclosed to prospective investors it had lost about $3.2 billion last year as part of a pitch for a stock market listing by merging with a special purpose acquisition company (SPAC), sources told Reuters earlier this week. The office-sharing startup's plans for its high-profile initial public offering imploded in October 2019 due to investor concerns over the office-sharing startup's business model and its founder Adam Neumann's ma…
WeWork to merge with property company two years after aborted IPO
Shared-office provider plans merger with BowX AcquisitionDeal values WeWork at $9bn, down from $47bn in 2019Troubled shared-office provider WeWork is set to merge with a special-purpose acquisition company two years after its plans to go public ended in spectacular disarray.The planned merger with BowX Acquisition, a publicly listed investment vehicle, values WeWork at $9bn including debt, a far cry from the $47bn WeWork was valued at in a priva…
WeWork reportedly agrees to a SPAC deal to go public
Office-sharing startup WeWork has agreed to go public through a merger with blank-check firm BowX Acquisition Corp, The Wall Street Journal reported on Friday.
WeWork announced Friday it plans to enter public markets through a merger transaction that raises $1.3 billion for the office-sharing firm.
The move comes two years after the former high-flying office-sharing company went into a spectacular tailspin that led to the cancelling of a planned public share offering and a bailout by Japanese investment firm SoftBank.
