The shared workspace group hopes to parlay a $1 billion injection from its largest shareholder into a $3 billion debt deal, Reuters said.
. The shared workspace group is in talks with its largest investor for a $1 billion injection, which it hopes to parlay into a $3 billion debt deal with the bank, according to Reuters. WeWork is hoping to secure the funds as early as next week, when it expects to outline planned job cuts and asset sales to employees, Reuters reported. Read more of Business Insider's WeWork coverage here. WeWork is seeking a $4 billion lifeline from SoftBank and JPMorgan, according to Reuters.
. The shared workspace group is in talks with its largest investor for a $1 billion injection, which it hopes to parlay into a $3 billion debt deal with the bank, according to Reuters. WeWork is hoping to secure the funds as early as next week, when it expects to outline planned job cuts and asset sales to employees, Reuters reported. Read more of Business Insider's WeWork coverage here. WeWork is seeking a $4 billion lifeline from SoftBank and JPMorgan, according to Reuters.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork Investors Turned Off by ‘Sloppy’ IPO FilingsThe more investors learned about WeWork, the less they liked it. The details that were wrong or omitted from its financial disclosures may have soured them even more and may pose a risk if the company tries to go public again.
Read more »
WeWork, eBay, and Wells Fargo: 2019 has seen a mass exodus of CEOs in the USIn just the past few weeks, the top executives at major U.S. companies including WeWork, eBay, and Juul have left or been forced out of their posts — but they are just the latest exits in a year with an unusually high number of CEO departures.
Read more »
Fear Overtakes Greed in IPO Market After WeWork DebacleShares of newly public companies, earlier this year one of the hottest investments on Wall Street, are in a slump after investors soured on money-losing startups from Uber Technologies to WeWork.
Read more »
Vision Fund will struggle to shrug off WeWork flopOne bad bet shouldn’t jeopardise SoftBank’s $100 bln vehicle. Yet the office sublessor’s failed float undermines the thesis that copious capital brings success and raises doubts about other punchy valuations. Future IPOs which the fund needs to repay investors look a lot harder.
Read more »
SoftBank's founder is 'embarrassed and impatient' with his investments after troubles with WeWork and Uber, and now he's telling founders to 'know your limit'Following disappointing results from WeWork and Uber's IPO preparations, SoftBank's founder says he is embarrassed by his investment record.
Read more »
WeWork's financing lifeline hinges on SoftBank talksWeWork is locked in negotiations this week with its largest shareholder, Softban...
Read more »