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WeWork Targets $3.5B IPO for September
WeWork is looking at a September launch for its initial public offering, Bloomberg News reported. The co-working company is targeting an IPO of $3.5 billion, although that amount may change. It plans to discuss IPO plans with analysts on July 31, a source told Bloomberg.
In April, the New York- and San Francisco-based company disclosed that it had filed a confidential registration with the SEC this past December. A confidential filing allows companies to shield sensitive information from competitors, customers and investors until they’re closer to going public.
Ahead of the IPO, WeWork has been in talks to secure a credit facility, originally $2.75 billion and subsequently expanded to $4 billion. The company is now negotiating to increase that amount to upwards of $6 billion in an asset-backed and highly structured financing, sources told Bloomberg.
The Wall Street Journal earlier reported the timing of the IPO.
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