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WeWork May Go Public by Combining with a SPAC
WeWork is in talks to combine with a SPAC, the Wall Street Journal reported Thursday. The discussions occur more than a year after the office leasing company’s unsuccessful initial attempt to go public.
WeWork’s board is considering offers from a SPAC affiliated with Bow Capital Management and at least one other unidentified SPAC, according to the WSJ. A deal could value the firm at $10 billion, but it’s not known whether that amount would include assumed debt.
However, the New York City-based company has also received offers for a new private investment round and could choose to stay private instead. It would then use the private investment to fund its growth initiatives.
WeWork’s Lauren Fritts told the WSJ, “Our significant progress combined with the increased market demand for flexible space, shows positive signs for our business. We will continue to explore opportunities that help us move closer towards our goals.”
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