SoftBank and JPMorgan are in talks about a plan to provide a rescue package for WeWork comprising of equity and debt, according to CNBC, which cites people familiar with the matter. Neumann, the top stakeholder, will see his voting shares reduced in power from 10:1 to 3:1, a source confirmed to CNBC, meaning he will no longer have majority voting control. JPMorgan is in discussions with 100 potential investors who could participate in the deal. The deal would be structured as an initial public offering (IPO) that will raise money from existing investors, including institutional investors.
SoftBank and JPMorgan are in talks about a plan to provide a rescue package for WeWork comprising of equity and debt, according to CNBC, which cites people familiar with the matter. JPMorgan is in discussions with 100 potential investors who could participate in the deal. The deal would be structured as an initial public offering (IPO) that will raise money from existing investors, including institutional investors.