WeWork to go public in special purpose acquistion valued at US$9b

[NEW YORK] WeWork announced Friday it plans to enter public markets through a merger with a special purpose acquisition company in a transaction that raises US$1.3 billion for the office-sharing firm.

The transaction with BowX Acquisition is the latest instance in which a prominent company eschews a traditional initial public offering in favour of combining with an entity like BowX that has been specifically established by investors for such a merger.

WeWork was given an enterprise value of US$9 billion in the transaction.

AFP

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