WeWork is in talks with BowX Acquisition Corp., a blank check company, for its listing plans, according to CNBC. The company seeks $1 billion from prospective investors in investment and for market listing.
WeWork disclosed it incurred a $3.2 billion loss last year, down from $3.5 million in 2019.
WeWork’s plans for a high-profile initial public offering collapsed in October 2019 on criticisms over its business model and its founder’s management style
The company forecasts occupancy to rebound to 90% by the end of 2022, up from 47% at the end of last year when COVID-19 shut its co-working spaces across the world.
The company expects its adjusted earnings before interest, taxes, depreciation, and amortization to hit $485 million next year
WeWork will go public at a valuation of $9 billion.
