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Home News Coworking

WeWork In Talks To Raise New Equity Following Record Low Shares

WeWork’s shares have fallen by over half since it went public in October, and reports now reveal that the company is looking to raise new equity.

Aayat AlibyAayat Ali
March 7, 2022
in Coworking
Reading Time: 1 min read
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WeWork In Talks To Raise New Equity Following Record Low Shares
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WeWork’s shares have fallen by over half since it went public via merging with a special purpose acquisition group in October. As a result, reports show that the coworking firm is in talks to raise new equity.   

On Friday, the company’s shares fell to $4.66, which is a record low for the operator.  

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According to investors, the new capital raise could come in the form of a private investment in public equity (PIPE), which could see the company’s shares being purchased below its current market value. WeWork hopes to bring in over $200 million.  

The company’s SPAC transaction included $800 million PIPE. 

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If the company is successful, this transaction could be revealed in WeWork’s fourth quarter earnings announcement that is expected on March 11. 

“The company has no plans to issue additional equity at this time,” said WeWork in a statement on Friday after trade closing. “Our liquidity at the end of the third quarter stands at $2.3 billion.”  

This news follows CEO Sandeep Mathrani revealing that the company will continue to operate in Russia for now. Other companies have halted their business in the country following its invasion of Ukraine. 

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Source: Bloomberg
Tags: BusinessCoworking
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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