WeWork and BowX Acquisition Corp., a special purpose acquisition company or SPAC, have entered into a definitive merger agreement, providing for a business combination that will result in WeWork becoming a publicly listed company. The transaction values WeWork at an initial enterprise value of approximately $9 billion. The transaction will provide WeWork with approximately $1.3 billion of cash, which will enable the company to fund its growth plans into the future.
Marcelo Claure and Sandeep Mathrani will continue to lead WeWork as executive chairman and CEO, respectively, along with the rest of the company’s highly experienced leadership team. Following the closing, Vivek Ranadivé of BowX and Deven Parekh of Insight Partners will join the company’s board of directors.
Mathrani said, “WeWork has spent the past year transforming the business and refocusing its core, while simultaneously managing and innovating through a historic downturn. As a result, WeWork has
