What WeWork Going Public — For Real This Time — Could Mean For The Office Market

WeWork, the coworking leader that had grown rapidly prior to its failed IPO in 2019, is now going public in a deal that could have major implications for the office market.

The company announced Friday it will go public through a merger with BowX Acquisition Corp., a special-purpose acquisition company, or SPAC, in a deal expected to close in the third quarter of this year that values WeWork at about $9B.

The deal provides a new influx of capital to WeWork at a time when it has been shrinking its office footprint. WeWork had exited 106 pre-open and underperforming locations as of December, the company said in its announcement. Following those exits, WeWork has 851 remaining locations...
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RSK: The jury is still out for me on WeWork. Yes, they have tightened the ship but still have many obligations in a down office market. The best thing for them is going public, where they will be held more accountable by the public and their board of directors.