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It has, as founder, former CEO and primary beneficiary Adam Neumann might put it, been a long, strange trip to the public markets for WeWork. Two years ago, the consciousness-raising, Kombucha-pouring company that was fundamentally changing how and where Americans (and, eventually, the world) worked was valued at $50 billion and working on an initial public offering. Unfortunately for Neumann, WeWork and, of course, Masa Son, filing to go public brings a somewhat greater level of scrutiny and very un-chill focus on actual numbers, and suddenly the $50 billion unicorn was having to settle for $20 billion or less. Still, the company soldiered on, forcing Son and SoftBank to lead a putsch against Neumann and take the whole thing over themselves, with ultimately disastrous consequences for their bottom lines.

The IPO was off. But WeWork hadn’t given up on going public. All it took was another $5 billion in SoftBank investors’ money, a painful existential reckoning and the rise of a vehicle whose blitheness toward fundamentals matches or exceeds that of SoftBank itself, and also a little help from Shaquille O’Neal, to make WeWork, as of tomorrow, a public company valued less than it was six years ago.

Special purpose acquisition company BowX Acquisition Corp. said Tuesday its shareholders approved the previously announced business combination with shared-workspace company WeWork Inc…. The merger is expected to close on or about Oct. 20, BowX said, adding shares of the combined company, to be named WeWork, are expected to begin trading on the New York Stock Exchange on Oct. 21.

SPAC Shareholders Approve Deal That Will Take WeWork Public [WSJ]

SPAC Shareholders Approve Deal That Will Take WeWork Public [WSJ]For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.


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Federal Court Revives Long-Form Financial Performance Art Of Masa Son

He gets to sell Sprint and its $40 billion in debt and lives to do something else bizarre.


Shaquille O’Neal Is Taking WeWork Public Via SPAC And Other Tales Of Finance In 2021

Like another company going public via SPAC giving you access to the IPOs it’s choosing to shun.

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Of Course WeWork Is In Talks With Some SPACs

We can only hope one of them is Masa Son’s.

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Masa Son Officially Out Of Ideas, And So Will Launch A SPAC

The greatest financial performance artist in history has settled for the easy and derivative.

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Wily Masa Son Made Damned Sure He Wouldn’t Have To Throw Away Another $3 Billion On WeWork

In his latest piece of financial performance art, Masa Son is getting sued by himself.

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Masa Son Thinks $15 Billion May Actually Be Enough To Spend On $5 Billion Company

On second thought, SoftBank might not need the extra $3 billion in equity, thanks.