WeWork shares dropped more than 10% following unverified claims about a $5 billion fundraising round. This selloff echoes the company’s turbulent financial history, including a $6 billion investment from SoftBank in January 2019 followed by a $5 billion rescue package in October the same year. WeWork went public through a SPAC merger in 2021 at an enterprise value of approximately $9 billion, before filing for bankruptcy two years later. The restructured company, now roughly 60% controlled by Yardi Systems, is trying to rebuild its financial position in a still volatile coworking market.
Source: Read the original article
