Bad gamblers chase their losses all the way to financial oblivion. SoftBank chief Masayoshi Son risks making the same mistake with The We Company, write LiamWardProud and rob_cyran.
SoftBank is planning to pump an extra $1 billion or more into WeWork parent The We Company by renegotiating a warrant agreement struck before its delayed initial public offering, the Financial Times reported on Sept. 26.
The plan would increase the Japanese firm's initially planned investment of $1.5 billion in WeWork as part of the agreement, giving the U.S. company the right to receive the money in April next year in exchange for Class A common stock. The potential new investment from SoftBank could unlock more financing options for WeWork, which is in talks for a $3 billion to $4 billion loan from a consortium of banks contingent on it raising additional capital.
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