WeWork is reportedly considering a special purpose acquisition company (SPAC) merger to take it public.
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Here’s everything investors need to know about WeWork and its possible plans to go public.
- According to recent rumors, the company is in discussions with SPACs about a merger.
- That reportedly includes one connected to Bow Capital Management LLC, as well as one other unknown one.
- The rumors claim that these talks have been going on for several weeks but don’t say when a possible deal could be announced.
- What the anonymous insider sources do say is that the SPAC merger could value the combined company at $10 billion.
- Adding to that, there are also rumors that WeWork is looking at raising its own funds privately.
- WeWork hasn’t confirmed the SPAC merger speculation but does note that it’s still working on opportunities to move it toward profitability.
- One thing that potential investors will want to know is that WeWork has attempted to go public in the past.
- It tried to do so through an initial public offering in 2019.
- However, creditors backed out of the offering after seeing the financial state of the company.
- That resulted in the IPO never coming to fruition and is a continued black mark on the company’s reputation.
- WeWork fancies itself a tech company that offers workspaces to customers, but it’s more akin to a real estate company renting out multiple locations around the world.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
