Articles from We Work

Today, WeWork, a leading global real estate platform, expands its product offering with the launch of WeWork Go, an entirely new workspace solution designed for the professional on the move.

WeWork Companies LLC (WeWork), the privately held parent company of its franchisee WeWork India Management Limited (“WeWork India”), applauds and fully supports the launch of their IPO and listing on the National Stock Exchange of India. The entities have enjoyed a long and positive partnership since WeWork India’s founding in 2017, during which time it has grown to become the top flexible office space provider in the country.

WeWork, the leading global flexible space provider, today announced the launch of its Coworking Partner Network, an affiliate program of third-party workspaces that delivers increased flexibility and choice to its members.

WeWork, the leading global flexible space provider, today announced it has successfully emerged from Chapter 11 and completed its global operational and financial restructuring. The Company also announced its new Board of Directors and the appointment of John Santora as Chief Executive Officer, and a director of the Company, effective June 12, 2024. This follows WeWork’s prior announcement that David Tolley has stepped down as CEO and as a director of the Company following the completion of its global restructuring.

WeWork, the leading global flexible space provider, today announced that David Tolley intends to step down as Chief Executive Officer and as a director of WeWork. The transition will occur upon the Company’s emergence from Chapter 11, which is expected to take place later today on June 11, 2024. At that time, the company will name a new Chief Executive Officer to lead the business into the future as well as its new Board of Directors.

WeWork announced today that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the District of New Jersey, a final step in the Company’s operational and financial restructuring. The Company expects to emerge from Chapter 11 in mid-June, following the completion of routine administrative matters.

WeWork announced today it has determined a final path forward at 90% of the locations in its global real estate portfolio through amended leases, new management agreements, or via the lease rejection process. This represents a significant milestone in WeWork’s global restructuring.

WeWork Inc. (NYSE: WE) (“WeWork” or “the Company”), the leading global flexible space provider, today announced that it has commenced a comprehensive reorganization to strengthen its capital structure and financial performance and best position the Company for future success. The Company maintains the strong support of its key financial stakeholders and has entered into a Restructuring Support Agreement (“RSA”) with holders representing approximately 92% of its secured notes to drastically reduce the Company’s existing funded debt and expedite the restructuring process. During this period, WeWork will further rationalize its commercial office lease portfolio while focusing on business continuity and delivering best-in-class services to its members, as global operations are expected to continue as usual.

WeWork Inc. (NYSE: WE) (“WeWork” or the “Company”), the leading global flexible space provider, today announced that David Tolley has been named Chief Executive Officer. Tolley has served as a WeWork Board Member since February 2023 and as interim Chief Executive Officer since May 2023.

WeWork Inc. (NYSE: WE) (“WeWork” or the “Company”), the leading global flexible space provider, today announced that it has completed the previously announced 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock. The reverse stock split became effective at 4:01 p.m. Eastern Time today, and the Company’s Class A Common Stock will begin trading on a split-adjusted basis at the market open on September 5, 2023. The reverse stock split was effected to enable the Company to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange. The Company does not expect the reverse stock split to impact its current or future business operations.

WeWork Inc. (NYSE: WE) (“WeWork” or the “Company”), the leading global flexible space provider, today announced that it will proceed with a 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock following approval by its Board of Directors and within the ratio range previously authorized by shareholders at the annual meeting of WeWork shareholders on June 12, 2023.

WeWork Inc. (NYSE: WE) ("WeWork"), the leading global flexible space provider, disclosed financial results today for the three and six months ended June 30, 2023. Second quarter highlights include:

WeWork Inc. (NYSE: WE), the leading global flexible space provider, today announced the appointment of Paul Aronzon, Founder of PSA Consulting; Paul Keglevic, former CEO, CFO and CRO of Energy Future Holdings; Elizabeth LaPuma, former Managing Director, Head of Balance Sheet Advisory at UBS, and Henry Miller, a Co-founder and retired Partner of Marblegate Asset Management, LLC, to the WeWork Board of Directors with immediate effect.

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Tuesday, August 8, 2023, it will issue financial results for the second quarter ending June 30, 2023. The company will conduct a conference call at 8:00 A.M. EDT on Wednesday, August 9, 2023, following the release of its earnings materials.

WeWork Inc. (NYSE: WE) (“WeWork” or the “Company”), the leading global flexible space provider, today announced that Sandeep Mathrani will be stepping down as Chairman, CEO and as a director of WeWork effective May 26th. Current WeWork Board member David Tolley has been appointed as interim CEO and will work alongside WeWork’s President and Chief Operating Officer Anthony Yazbeck. Lead Independent Director Daniel Hurwitz will now serve as Chairman of the Board and lead a special committee to search for a permanent CEO.

WeWork Inc. (NYSE: WE) ("WeWork"), the leading global flexible space provider, disclosed financial results today for the three months ended March 31, 2023. First quarter and other recent highlights include:

WeWork Inc. (“WeWork” or the “Company”) (NYSE: WE) today announced the expiration and final results of the previously announced separate offers to exchange (each an “Exchange Offer” and, together, the “Exchange Offers”) by WeWork Companies LLC (the “Issuer”) and WW Co-Obligor Inc. (the “Co-Obligor” and together with the Issuer, the “Issuers”), each a subsidiary of the Company, any and all of the Issuers’ outstanding 7.875% Senior Notes due 2025 (the “Old 7.875% Notes”) and 5.00% Senior Notes due 2025, Series II (the “Old 5.00% Notes” and, together with the Old 7.875% Notes, the “Old Notes”), for a combination of certain securities as set forth in, and subject to the terms and conditions of, the confidential offering memorandum and consent solicitation statement dated as of April 3, 2023 (as supplemented or otherwise modified from time to time, the “Offering Memorandum”).

WeWork Inc. (NYSE: WE) (the “Company”), the leading global flexible space provider, today announced that on April 12, 2023, it received a notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) notifying the Company that it is not in compliance with the NYSE’s continued listing standards because as of April 11, 2023, the average closing price of the Company’s Class A Common Stock (the “Common Stock”) was less than $1.00 per share over a consecutive 30 trading-day period. The Notice does not result in the immediate delisting of the Company’s Common Stock from the NYSE.

WeWork Inc. (“WeWork” or the “Company”) (NYSE: WE) today announced the early tender results of the previously announced separate offers to exchange (each an “Exchange Offer” and, together, the “Exchange Offers”) by WeWork Companies LLC (the “Issuer”) and WW Co-Obligor Inc. (the “Co-Obligor” and together with the Issuer, the “Issuers”), each a subsidiary of the Company, any and all of the Issuers’ outstanding 7.875% Senior Notes due 2025 (the “Old 7.875% Notes”) and 5.00% Senior Notes due 2025, Series II (the “Old 5.00% Notes” and, together with the Old 7.875% Notes, the “Old Notes”), for a combination of certain securities as set forth in, and subject to the terms and conditions of, the offering memorandum and consent solicitation statement dated as of April 3, 2023 (as supplemented or otherwise modified from time to time, the “Offering Memorandum”).

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Tuesday, May 9, 2023, it will issue financial results for the first quarter ending March 31, 2023. The company will conduct a conference call at 8:00 AM ET, following the release of its earnings materials.

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that its Board of Directors (the “Board”) has adopted a stockholder rights plan designed to protect long-term stockholder value by preserving the availability of WeWork’s net operating loss carryforwards (“NOLs”) and other tax attributes under the Internal Revenue Code (the “Tax Asset Preservation Plan”). The Board took this action in connection with the various transactions announced by WeWork on March 17, 2023 to significantly deleverage WeWork’s capital structure and bolster liquidity by restructuring its outstanding debt and raising additional capital (collectively, the “Specified Transactions”).

WeWork Inc. (“WeWork” or the “Company”) (NYSE: WE) today announced that WeWork Companies LLC (the “Issuer”) and WW Co-Obligor Inc. (the “Co-Obligor” and together with the Issuer, the “Issuers”), each a subsidiary of the Company, have commenced separate offers to exchange (each an “Exchange Offer” and, together, the “Exchange Offers”) any and all of the outstanding Issuers’ 7.875% Senior Notes due 2025 (the “Old 7.875% Notes”) and 5.00% Senior Notes due 2025, Series II (the “Old 5.00% Notes” and together with the Old 7.875% Notes, the “Old Notes”) for either (a) if Eligible Holders (as defined below) elect to purchase their applicable Pro Rata Portion (as defined below) of $500.0 million in aggregate principal amount of new 15.00% (7.00% Cash/8.00% PIK) First Lien Senior Secured PIK Notes due 2027 (the “New First Lien Notes” and the issuance thereof, the “New First Lien Notes Issuance”) issued by the Issuers (such Eligible Holders, the “New Money Participants”), at their option, (x) a combination of new 11.00% (5.00% Cash/6.00% PIK) Second Lien Senior Secured PIK Notes due 2027 (the “New Second Lien Notes”) issued by the Issuers and shares of Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock”), of the Company (the “First Option Consideration”) or (y) shares of Class A Common Stock (the “Second Option Consideration”) or (b) if Eligible Holders do not elect to purchase their applicable Pro Rata Portion of New First Lien Notes (such Eligible Holders, the “Non-New Money Participants”), at their option, (x) a combination of new 12.00% Third Lien Senior Secured PIK Notes due 2027 (the “New Third Lien Notes” and together with the New First Lien Notes and the New Second Lien Notes, the “New Notes” and the New Notes together with the Class A Common Stock issued in the Exchange Offers, the “Securities”) issued by the Issuers and shares of Class A Common Stock (the “Third Option Consideration”) or (y) shares of Class A Common Stock (the “Fourth Option Consideration” and together with the First Option Consideration, the Second Option Consideration and the Third Option Consideration, the “Exchange Consideration”), as described in further detail below.

WeWork Inc. (NYSE: WE) ("WeWork"), the leading global flexible space provider, today announced that it has entered into a series of agreements with an ad hoc group representing over 60% of the company’s public bonds, a third-party investor, and SoftBank’s Vision Fund II (“SoftBank”) which will provide the company with an improved and sustainable balance sheet. The ad hoc group includes funds and accounts managed by King Street Capital Management, L.P., funds and accounts managed by BlackRock, funds and accounts managed by Brigade Capital Management, and other leading financial institutions.

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced a franchise partnership with SiSebenza, a pan-African real estate investor, giving SiSebenza the exclusive right to operate WeWork’s existing locations in South Africa. The deal also grants SiSebenza exclusive rights to grow and operate the WeWork franchise in Ghana, Kenya, Mauritius and Nigeria.

WeWork Inc. (NYSE: WE) ("WeWork"), the leading global flexible space provider, disclosed financial results today for the three months, and fiscal year ended December 31, 2022. Fourth quarter, full-year and other recent highlights include:

WeWork Inc. (NYSE: WE), the leading global flexible space provider, today announced that David Tolley, Board Member and former Chief Financial Officer at Intelsat S.A., has been appointed to the WeWork Board of Directors, effective February 2, 2023. Mr. Tolley succeeds Kirthiga Reddy, CEO, Virtualness, and President, Athena Technology II, who had served on WeWork’s Board since February 2020.

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Thursday, February 16, 2023, it will issue financial results for the fourth quarter and full year ending December 31, 2022. The Company will conduct a conference call at 8:00 AM ET, following the release of its earnings materials.

WeWork Inc. (NYSE: WE), the leading global flexible space provider, today announced that Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers, has been appointed to the WeWork Board of Directors, effective November 30, 2022.

Due to a transcription error, in the “CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS” table, figure in the 2022 column of row “Operating lease right-of-use assets” should read 882 (instead of 82).

WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Thursday, November 10, 2022, it will issue financial results for the third quarter ending September 30, 2022. The company will conduct a conference call at 8:00 AM ET, following the release of its earnings materials.

WeWork (NYSE: WE), one of the leading global flexible space providers, today announced a global initiative comprised of 11 individual strategic partnerships in cities across the world, designed to support businesses of all sizes return to the office in flexible ways that accommodate their needs, while also supporting the revitalization efforts of city leaders worldwide.

WeWork Inc. (NYSE: WE), the leading global flexible space provider, today announced that Alex Clavel, Chief Executive Officer of SoftBank Group International (“SBGI”), has joined WeWork’s Board of Directors, effective August 9, 2022. Mr. Clavel succeeds Michel Combes, the former Chief Executive Officer of SBGI, who had served on WeWork’s Board since October 2020.

WeWork Inc. (NYSE: WE) ("WeWork"), the leading global flexible space provider, disclosed financial results today for the three months ended June 30, 2022. Second quarter and other recent highlights include:

WeWork (NYSE: WE), a leading global flexible space provider, today announced the official debut of WeWork Workplace, a new space management solution built in partnership with Yardi, the leading provider of real estate software. WeWork Workplace provides companies with a universal platform that enables inventory management across office spaces, enhanced employee experiences and space optimization through insights and analytics.

WeWork Inc. (NYSE: WE) (“WeWork”), one of the leading global flexible space providers, today announced that on Thursday, August 4, 2022, it will issue financial results for the second quarter ending June 30, 2022. The company will conduct a conference call at 8:00 (ET), following the release of its earnings materials.

WeWork Inc. (NYSE: WE), a leading global flexible space provider, today announced that Daniel Hurwitz, co-founder & CEO of Raider Hill Advisors, has joined WeWork’s Board of Directors, effective June 23, 2022. He succeeds Jeffrey Sine, co-founder and partner of The Raine Group, who served on WeWork’s Board since October 2019.

WeWork Inc. (NYSE: WE) ("WeWork" or the “Company”), a leading global flexible space provider, announced today the appointment of Andre J. Fernandez as Chief Financial Officer effective June 10, 2022.

WeWork Inc. (NYSE: WE) ("WeWork"), a leading global flexible space provider, disclosed financial results for its first quarter today.

WeWork Inc. (NYSE: WE) (“WeWork”) will hold its quarterly conference call to discuss its first quarter 2022 financial results on Thursday, May 12 at 9:00 a.m. Eastern Time.

WeWork Inc. (NYSE: WE), a leading global flexible space provider, is partnering with Yardi, the leading provider of real estate software, to accelerate speed to market and deliver more enhanced capabilities to the already announced WeWork Workplace product. By partnering, the two organizations will provide companies of all sizes with a universal platform for powering and optimizing flexible workplace strategies.

WeWork Inc. (NYSE: WE), a leading global flexible space provider, today announced that Saurabh Jalan, Partner at SoftBank Group International (“SBGI”), has joined WeWork’s Board of Directors. Jalan will bring his extensive experience working with global technology platforms to WeWork’s Board of Directors. Additionally, the Board has appointed WeWork CEO Sandeep Mathrani to the position of Chairman of the Board; Mathrani has served on the Board since he was appointed CEO of WeWork in February 2020.

WeWork (NYSE: WE), a leading flexible space provider, and Oatly (Nasdaq: OTLY), the world’s original and largest oat drink company, today announced WeWork Changemakers: Sustainability Series, a national pitch competition series celebrating startups striving to make a positive impact on the environment.

WeWork (NYSE: WE), a leading flexible space provider, announced today that it is expanding its WeWork Growth Campus program nationally and committing an additional $35 million in space for startups and nonprofits in four cities across the country.

WeWork Inc. (NYSE: WE), a leading flexible space provider, today announced the company's annual meeting of stockholders will be held on Wednesday, May 18, 2022, at 1:00 PM ET.

WeWork Inc., a leading flexible space provider, announced today the launch of WeWork Growth Campus NYC, an initiative that aims to boost economic recovery and provide support to startups, entrepreneurs and nonprofits across New York City. The ongoing pandemic has created challenges for growing companies, and WeWork Growth Campus NYC seeks to bolster the city’s economic recovery and future through support of innovation, a key piece of New York’s economy.

WeWork Inc. (NYSE: WE) (“WeWork”) will hold its quarterly conference call to discuss its fourth quarter 2021 financial results on Friday, March 11, 2022 at 9:00 a.m. Eastern Time.

WeWork Inc., a leading flexible space provider, announced today a strategic and exclusive partnership with Upflex, a coworking aggregator and global flexible workplace startup.The exclusive partnership will establish a combined global network of over 5,500 locations and provide WeWork and Upflex’s clients with enhanced flexibility as they adopt hybrid work strategies. WeWork will also participate in Upflex’s Series A funding alongside additional investors.

WeWork Inc. (NYSE: WE) and Common Desk today announced that the companies have signed a definitive agreement under which WeWork will acquire Common Desk, a premier flexible workspace provider based in Dallas, Texas. The transaction is WeWork’s latest step in executing on a path towards cost-efficient, strategic growth.

WeWork Inc. (NYSE: WE) (“WeWork”), one of the leading global flexible space providers, today announced that Organon, a global leader in women’s health, has signed as the first enterprise customer of WeWork’s software offering, The announcement represents WeWork’s first step in rolling out its new space management tool, which leverages the same proprietary software WeWork has used to power and manage its global portfolio of flexible space offerings.

WeWork Inc. (NYSE: WE) (“WeWork”), one of the leading global flexible space providers, today announced preliminary sales results for December 2021, demonstrating continued strong demand for flexible space despite a challenging macro environment. Sequential growth in December across gross desk sales, occupancy, and All Access memberships underscores the priority that businesses of all sizes are placing on real estate solutions that enable more flexible and hybrid work models.

WeWork Inc. (NYSE: WE) (“WeWork”), one of the leading global flexible space providers, today provided a business update of key operational metrics for November 2021 and announced agreements to extend its secured credit commitments, which resulted in an extension of $1.75 billion of total liquidity from February 2023 to February 2024:

WeWork Inc. (NYSE: WE) today issued the below statement regarding its Form 8-K filed with the Securities and Exchange Commission (“SEC”) on December 1, 2021, which disclosed plans to restate the financial results of its predecessor, BowX Acquisition Corp. (“BowX”).

WeWork Inc. (NYSE: WE) ("WeWork"), one of the leading global flexible space providers, today reported financial results for its third quarter ending on September 30, 2021.

WeWork (NYSE: WE), one of the leading global flexible space providers, will support and participate today in the annual New York City Veterans Day Parade, underscoring the company’s aim to impact one million people each year by supporting local communities and organizations.

WeWork Inc. (NYSE: WE) will hold its quarterly conference call to discuss its third quarter 2021 financial results on Monday, November 15, 2021 at 9:00 a.m. Eastern Time.

BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, AND BOWXW) (“BowX”), a special purpose acquisition company, and WeWork Inc., a leading global flexible space provider, today announced the completion of their business combination. The combined company will now operate as WeWork Inc. and will begin trading on the New York Stock Exchange under the ticker symbol “WE” on October 21, 2021.

BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, AND BOWXW) (“BowX”), a special purpose acquisition company, today announced that in a special meeting held today, its stockholders voted to approve its business combination with WeWork Inc. (“WeWork”), the leading flexible space provider. The business combination was supported by 97.9% of the votes cast at the meeting, representing approximately 77.6% of BowX’s outstanding shares.

BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, and BOWXW) (“BowX”), a special purpose acquisition company, reminds stockholders to vote in favor of its proposed business combination with WeWork Inc. (“WeWork”) ahead of its special meeting scheduled for October 19, 2021, at 11:00 AM Eastern Time (the “Special Meeting”). Holders of BowX common stock as of the record date of September 14, 2021, should vote their shares even if they no longer own them and regardless of the number of shares they hold.

As previously announced on March 25, 2021, BowX Acquisition Corp. (“BowX”) and WeWork Inc. (“WeWork”) entered into a definitive merger agreement, providing for a business combination (the “Business Combination”) that will result in WeWork becoming a publicly listed company.

WeWork, one of the leading global flexible space providers, today hosted a virtual Investor Day ahead of its planned combination with BowX Acquisition Corp. During the presentation, WeWork’s Chief Executive Officer, Sandeep Mathrani, Chief Financial Officer, Ben Dunham, and VP, Investor Relations and Corporate Development, Chandler Salisbury, presented a detailed overview of WeWork’s market position, strategy, and growth plans as companies around the world prepare for the future of work. Highlights of the presentation are included below. A full playback of the presentation and supporting materials are accessible at: investors.wework.com.