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WeWork takes SPAC route to go public in $9 billion deal
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(BOWX), SOFTBANK CORP ORD (SFTBF) - SoftBank-Backed WeWork To Go Public Via SPAC Merger In $9B Deal
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WeWork Founder Adam Neumann, Softbank Reach Settlement In Legal Battle
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By Salvador Rodriguez, CNBC •
Updated on February 23, 2021 at 6:48 am
Eduardo Munoz | Reuters
WeWork Co-founder Adam Neumann and SoftBank Group Corp are nearing a settlement agreement that would cut the former CEO s payout from the company by nearly $500 million, a source familiar with the matter told CNBC s Deirdre Bosa.
Should a deal be finalized, SoftBank would purchase approximately $1.5 billion of shares from early WeWork investors, including almost $500 million from Neumann. The deal would represent 10.5% of WeWork shares, with the price at $19.19 per share, the source said.
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SoftBank Would Buy About 25% of Adam Neumann s Stake in WeWork for $480 Million Under Proposed Settlement
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