We Company Files Registration for IPO
WeWork parent the We Company took a step closer toward its much-anticipated initial public offering by filing a registration statement with the SEC. The number of shares to be offered and the price range for the IPO haven’t been determined, nor has the registration statement been declared effective, the company said Wednesday.
In its registration statement, the We Company cited run-rate revenues of $3.3 billion as of June 30, an 86% year-over-year increase. However, it also cited billions of dollars in deficits over the past few years, which it attributed to “the substantial investments required to grow our business, including the significant increase in recent periods in the number of locations we operate.”
J.P. Morgan, Goldman Sachs & Co. LLC, BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, HSBC, UBS Investment Bank and Wells Fargo Securities will serve as joint bookrunning managers for the offering.
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