WeWork nears public listing as SPAC shareholders approve merger

Wework

20/10/2021 12:30

** Office-sharing firm WeWork on verge of going public after
SPAC BowX Acquisition Corp  BOWX.O  said shareholders approved
business combination
    ** BOWX, which announced merger approval around 3:00 PM EDT
on Tues, said deal expected to provide WeWork with approx $1.3
bln in cash  urn:newsml:reuters.com:*:nBw65n46a
    ** Merger expected to close on or about Weds (Oct 20), BOWX
said, and WeWork shares would begin trading on NYSE with ticker
"WE" on Thurs
    ** WeWork, backed by Japanese conglomerate SoftBank Group
Corp  9984.T , earlier this month reported preliminary Q3 rev of
$658 mln, near bottom end of its $650-$700 mln forecast
 urn:newsml:reuters.com:*:nL8N2R355G  urn:newsml:reuters.com:*:nL4N2PK2ZO
    ** In March, WeWork agreed to go public in $9 bln deal with
BOWX
    ** Shares of BOWX on Tues fell as low as $8.85 after co
announced merger approval, before finishing session down ~10% at
$9.37

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))