TECH Adam Neumann is trying to buy bankrupt WeWork

[{"selector":"#anim-69db26c7-037a-45ba-ab7c-0bec8055c766","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-310b4083-310d-40be-bfbb-a1baf35b3e13","keyframes":{"transform":["rotate(-360deg) translate3d(109.96978%, 0px, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Adam Neumann, ousted founder of WeWork, seeks to repurchase the bankrupt company.

Neumann, along with his startup Flow and Third Point fund, expresses interest in acquiring WeWork since December 2023.

[{"selector":"#anim-b42df187-8f30-47a2-b116-0cf4826fde23","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-69cb87bd-fa2d-4aa5-bece-ce550c65b134","keyframes":{"transform":["translate3d(107.37463%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Efforts to buy WeWork date back to October 2022 when Neumann attempted financing of up to $1 billion.

[{"selector":"#anim-4a770b68-4990-4532-bf07-61ea04533527","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-def2929e-1f0a-4c81-8a77-41e9219279d9","keyframes":{"transform":["rotate(-360deg) translate3d(105.76923%, 0px, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-b3cf11e4-0d9c-4cf5-8ca4-1c4c128bf22d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-35fe362e-5dee-49f5-9fe3-0cb933e08e18","keyframes":{"transform":["translate3d(114.87342%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Former CEO Sandeep Mathrani rejected Neumann's financing attempt in 2022.

[{"selector":"#anim-61596851-06b4-47b5-8239-7c3f66d375ef","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-961dc6c5-1c34-4125-8cb7-85386d7b5c85","keyframes":{"transform":["translate3d(118.67089%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] WeWork advisors initially resisted Neumann's efforts but later suggested DIP financing.

[{"selector":"#anim-c86103f0-b14f-4cfb-9c59-138d9d330eb4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04dff81d-e579-4233-bf1f-53c108b235d4","keyframes":{"transform":["translate3d(114.96816%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] It's unclear if WeWork and Neumann's team signed an NDA, though mark-ups have been exchanged.

[{"selector":"#anim-cd0cc278-8f69-443c-9cf1-c26d6bc23bbd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54fe5f80-9f3b-4941-96ad-c6e1c928553f","keyframes":{"transform":["translate3d(115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – WeWork filed for bankruptcy in November 2023 due to financial struggles.

[{"selector":"#anim-d79f2810-8914-4ad9-afdf-0e0cc43e7b50","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9cb2505c-79e0-48c9-a605-93db2e7f29c4","keyframes":{"transform":["translate3d(115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Neumann resigned in 2019 amid investor concerns over corporate governance and valuation.

TECH Adam Neumann is trying to buy bankrupt WeWork

Neumann, along with his startup Flow and Third Point fund, expresses interest in acquiring WeWork since December 2023.

Efforts to buy WeWork date back to October 2022 when Neumann attempted financing of up to $1 billion.

Army-Navy Game 2022

You Should Know

Click on Below