WeWork office space/ photo credit: The We Company
NEW YORK CITY—In April, WeWork announced that in December 2018 it had filed paperwork for an IPO of its common stock. The Wall Street Journal has reported that the flexible office space provider is planning to go public in September. The news outlet stated that WeWork is meeting with banks to negotiate an asset-backed loan and is expecting to raise $5 billion to $6 billion. The debt would reduce the amount the company would need to raise in its IPO.
The WSJ noted one reason for the launch that's earlier than what many investors expected is the strong US stock market and “executives at WeWork are worried that the good times won't last.”
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
