Bad gamblers chase their losses all the way to financial oblivion. SoftBank chief Masayoshi Son risks making the same mistake with The We Company, write LiamWardProud and rob_cyran.
SoftBank is planning to pump an extra $1 billion or more into WeWork parent The We Company by renegotiating a warrant agreement struck before its delayed initial public offering, the Financial Times reported on Sept. 26.
The plan would increase the Japanese firm's initially planned investment of $1.5 billion in WeWork as part of the agreement, giving the U.S. company the right to receive the money in April next year in exchange for Class A common stock. The potential new investment from SoftBank could unlock more financing options for WeWork, which is in talks for a $3 billion to $4 billion loan from a consortium of banks contingent on it raising additional capital.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Masayoshi Son's unyielding optimism — and lack of challengers — led SoftBank to overvalue WeWork, sources sayAt one point, Son's optimism about WeWork was countered by dissenting voices, such as Nikesh Arora and Alok Sama, according to people familiar with the matter.
Leer más »
SoftBank is in talks to boost its $1.5-billion pledge to WeWorkSoftBank is in talks with WeWork to increase a $1.5-billion investment the Japanese technology group has agreed to put into the office leasing company.
Leer más »
SoftBank likely to funnel $1 billion more into WeWork after delayed IPO: FTSoftBank Group Corp is planning to pump an extra $1 billion or more into WeWork ...
Leer más »
WeWork co-founder Adam Neumann stepping down as CEONeumann will stay on in WeWork, the company he co-founded, in a non-executive role as chairman of the board
Leer más »
WeWork Investors Look To Oust CEO Adam NeumannKey WeWork investors are leading a boardroom campaign to oust chief executive and co-founder Adam Neumann.
Leer más »
WeWork CEO steps down amid drug use allegations, failure to launch IPOLayoffs of 5,000 employees could follow, as well as the closing of ancillary businesses such as its private grade school and computer programming school.
Leer más »