BowX Acquisition Corp. Completes Business Combination with WeWork

October 20, 2021

BowX Acquisition Corp. and WeWork completed their business combination on October 20, 2021, taking WeWork public; the combined company began trading on the New York Stock Exchange under the ticker "WE" on October 21, 2021. The deal provided WeWork approximately $1.3 billion in gross cash proceeds (including trust-account cash, a fully committed PIPE and an equity backstop from Cushman & Wakefield) and left Marcelo Claure and Sandeep Mathrani in leadership roles as Executive Chairman and CEO, respectively.

Buyers
BowX Acquisition Corp., Cushman & Wakefield, Unspecified PIPE investors
Targets
WeWork Inc.
Industry
Real Estate
Location
New York, United States
Transaction Type
Buyout

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