WeWork pushed back its initial public offering as it seeks to allay investor doubts over its governance, slashed valuation and business prospects.
The delay will give advisors more time to drum up interest and may enable the company to show investors another quarter’s worth of results. Still, the value of WeWork’s bonds sank the most on record Tuesday on concerns that the cash-burning company will miss out not only on the more than $3 billion it planned to raise in the offering, but also on a $6-billion credit facility tied to a successful IPO. WeWork must carry out the offering by Dec. 31 to get the loan.
The company’s $669 million of bonds due in 2025 dropped as much as 7.3 cents on the dollar to 95.5 cents Tuesday, according to the Trace bond-price reporting system. That’s the biggest decline since the notes were issued in April 2018.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
WeWork reportedly is leaning toward delaying its IPOWeWork is expected to delay its planned public offering until at least October. Previously, it was expected to complete it by the end of this month.
Consulte Mais informação »
WeWork parent considers delaying IPO following pushback: sourcesWeWork owner The We Company is considering delaying its initial public offering ...
Consulte Mais informação »
WeWork parent pulls IPO following pushback: sourcesWeWork owner The We Company took a last-minute decision on Monday to suspend pre...
Consulte Mais informação »
WeWork parent says IPO still on despite setbacksAs WeWork's troubled market debut is delayed, The We Company told investors they can expect a big debut on Wall Street by the end of the year
Consulte Mais informação »