WeWork finally dons office-appropriate attire

Wework

26/03/2021 14:25

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Lauren Silva Laughlin
    NEW YORK, March 26 (Reuters Breakingviews) - Merging with a
SPAC will give the shared-office lessor $1.3 bln in fresh cash
and a $9 bln valuation far below the price tag it flaunted in
2019. The resilience of its revenue is encouraging. But whiffs
of the old WeWork remain, like a reliance on aggressive growth
assumptions.
    Full view will be published shortly.
    On Twitter https://twitter.com/thereallsl 
    
    CONTEXT NEWS
    - WeWork on March 26 announced a merger with special purpose
acquisition company BowX Acquisition. 
    - The workspace-rental company will receive around $1.3
billion in cash, including an $800 million private placement
from investors including Insight Partners, funds managed by
Starwood Capital, Fidelity Management & Research, Centaurus
Capital, and funds managed by BlackRock. 
    - The deal also includes a $550 million borrowing line
provided by SoftBank. 
    - WeWork attempted and then shelved an initial public
offering in 2019.
    - For previous columns by the author, Reuters customers can
click on  SILVA/ 
    - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
WeWork takes SPAC route to go public in $9 billion deal   
 urn:newsml:reuters.com:*:nL4N2LO2G8
Merger statement     https://www.wework.com/ideas/newsroom-landing-page/newsroom/posts/wework-to-become-publicly-traded-via-spac-merger-with-bowx-acquisition-corp
Presentation     https://www.wework.com/ideas/wp-content/uploads/sites/4/2021/03/WeWork-Management-Presentation-March-2021-vF-1.pdf
BREAKINGVIEWS – WeWork tiptoes back to the water cooler   
 urn:newsml:reuters.com:*:nL1N2KG2CY
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by John Foley and Karen Kwok)
 ((Lauren.SilvaLaughlin@thomsonreuters.com))