WeWork Inc. (WEWKQ)
| Previous Close | 0.1200 |
| Open | 0.1200 |
| Bid | N/A x N/A |
| Ask | N/A x N/A |
| Day's Range | 0.1200 - 0.1300 |
| 52 Week Range | 0.0100 - 18.7600 |
| Volume | |
| Avg. Volume | 38,723 |
| Market Cap | 6.859M |
| Beta (5Y Monthly) | 1.37 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | Apr 29, 2024 - Apr 30, 2024 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 12.00 |
ReutersWeWork founder Neumann wants bankruptcy court's help in bid to repurchase company
(Reuters) -WeWork founder Adam Neumann has asked a U.S. bankruptcy judge to help his bid to re-acquire the coworking business, saying Monday that WeWork's management should engage in talks or be forced to cede control of the company's restructuring. Neumann's new real estate company, Flow Global, has sought to buy WeWork out of bankruptcy, recently offering over $500 million.
ReutersAdam Neumann moves to buy back WeWork as it seeks funds to exit bankruptcy, FT reports
The shared office space provider was running short of cash and needed as much as $400 million in fresh funding to have a chance of emerging viably, FT said, citing two people familiar with the matter. Alex Spiro, an attorney for Neumann's real estate firm Flow told FT that the company and its financial partners were prepared to beat any other offer that WeWork has received by 10%. Adam Neumann had submitted a bid of more than $500 million to buy back WeWork, Reuters reported last month citing a person familiar with the matter.
ReutersWeWork targets Chapter 11 exit by May 31, secures $8 billion in rent reduction
The shared office space provider, once privately valued at $47 billion, filed for bankruptcy in November as it racked up losses on its long-term leases after demand for office space plunged during the pandemic and from a shift to hybrid working. The SoftBank-backed company's post-bankruptcy business plan is premised on a significant reduction in future rent costs from its landlords.
