WeWork IPO delayed news is spreading Tuesday as the company pushes back the date.
Here’s what investors need to know about the WeWork IPO being delayed.
- WeWork was planning to hold a road show event this week to build up interest in an IPO.
- While WeWork doesn’t give the exact reason for the delay, there are a few likely candidates.
- Among these is the company’s valuation coming in below it expectations.
- The company may seek a valuation of $10 million to $12 million from investors.
- It’s private valuation was sitting at $47 billion.
- It’s possible that WeWork may use the time until its next IPO to try and drum up more interest from investors.
- There was talk that opposition from WeWork investor Softbank (OTCMKTS:SFTBY) was part of the problem.
- However, it doesn’t appear that this is the case.
- Instead, there was reportedly a deal in place that would have Softbank converting its warrants to match the WeWork IPO price.
- Despite this, it does seem like there are some investors that want the company to hold off on the WeWork IPO.
- While a hard date isn’t set yet, the IPO could take place as early as mid-October.
- Softbank may be among the investors pushing for the company to not go public until sometime next year.
- The plan is for WeWork to trade on the New York Stock Exchange under the stock ticker “WE”.
As of this writing, William White did not hold a position in any of the aforementioned securities.