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    Home»Deals»WeWork merges with SPAC in going public
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    WeWork merges with SPAC in going public

    March 28, 20211 Min Read
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    The co-working and flexible space provider WeWork has entered into a definitive merger agreement with the special purpose acquisition company (SPAC) BowX in order to become a publicly listed company.

    The deal values WeWork at an initial enterprise value of approximately $9bn and the transaction will provide the company with $1.3 billion in cash to fund its growth plans into the future.

    The transaction itself will be funded with BowX’s $483m of cash in trust in addition to a fully committed $800m private placement investment at $10 per share led by investors including Insight Partners, funds managed by Starwood Capital Group, Fidelity Management & Research Company LLC, Centaurus Capital and funds and accounts managed by BlackRock.

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    Source: Tech Radar

    By Anthony Spadafora

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

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