Executives at WeWork are attempting to reassure their staff that the company still has the backing of its main investor, SoftBank. This comes after reports that SoftBank would be delaying, or even walking away from, an agreement to purchase $3 billion of company stock held by investors and staff as part of its bailout package for the coworking firm.
In an email obtained by Bloomberg, executives said that WeWork still has the support of SoftBank.
The Japanese conglomerate reportedly told shareholders that regulatory inquiries into WeWork might lead them to back out of this part of the deal
“There should be no doubt in SoftBank’s support of WeWork and the strategic five-year financial plan that we all continue to execute on together,” the executives wrote in the email.