News Formal

WeWork debuts on the public markets after SPAC merger, stock up in early trading

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Colombia Noticias Noticias

Colombia Últimas Noticias,Colombia Titulares

The office-leasing company halted initial plans for an IPO in 2019 after investors raised concerns over its business model and then-CEO Adam Neumann.

In October 2019, SoftBank agreed to spend $10 billion for an 80% stake in WeWork.

In March, WeWork agreed to the $9 billion SPAC merger with BowX Acquisition, a move that was finalized Oct. 20. As part of the deal, SoftBank retained a majority stake in the company but agreed to a one-year lock-up on their shares, according to a person familiar with the matter,SPACs, also known as blank-check companies, are set up for the sole purpose of raising money through an IPO and using that money to acquire an existing company.

 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 12. in CO

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stocks making the biggest moves midday: Pinterest, Sonos, Anthem and moreThese are the stocks posting the largest moves in midday trading.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Santoli’s Tuesday market notes: Earnings power stocks higher, bitcoin futures ETF gets warm welcomeNew for subscribers: Santoli’s Tuesday market notes: Earnings power stocks higher, bitcoin futures ETF gets warm welcome. Check out CNBCPro today.
Fuente: CNBC - 🏆 12. / 72 Leer más »