News Briefs

WeWork to go public via merger with Bow Capital SPAC: WSJ

Office space firm WeWork has agreed to go public via a merger with BowX Acquisition Corp, a blank check company formed by Bow Capital, reported the Wall Street Journal.

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Office space firm WeWork has agreed to go public via a merger with BowX Acquisition Corp, a blank check company formed by Bow Capital, reported the Wall Street Journal. The news outlet noted that the transaction puts WeWork at a valuation at $9 billion. As part of the deal, WeWork is raising $1.3 billion, which will include $800 million in PIPE financing from investors that include Insight Partners, Starwood Capital Group and Fidelity Management.

Source: WSJ