WeWork

WeWork is a commercial real estate company that provides shared workspaces for technology startups and services for other enterprises.

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WeWork, Inc. engages in the provision of flexible workspace solutions. It offers access to office spaces, internet connection, and other shared facilities. The company was founded in 2010 and is headquartered in New York, NY.

WeWork said CEO Sandeep Mathrani is stepping down from the top job at the end of the month. Board member David Tolley will take his place as interim CEO.

Why WeWork Stock Was Falling Today

WeWork Inc.'s stock fell 14.6% to a record low on Wednesday, after the office-sharing company announced the imminent departure of its chief executive, garnering a downgrade from Mizuho.

WeWork stock tumbles to record low after news of CEO departure

The CEO tasked with turning WeWork Inc (NYSE:WE) around after its failed 2020 IPO is stepping down, the company announced.  Sandeep Mathrani, who joined the company in 2020, will leave WeWork on May 26, as private equity firm Sycamore Partners tapped him as a director to lead its real estate operations.

WeWork CEO Sandeep Mathrani leaves for private equity firm after three years

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The financier, who retains a role at SoftBank, recently agreed through his new fund to provide the office landlord nearly $500 million of high-interest debt, putting him on two sides of the same deal.

Rajeev Misra Has Two Jobs. He Backs WeWork at Both.

WeWork (NYSE: WE) stock price has crashed to a record low as concerns about the company continue. It has become a penny stock valued at $805 million, which is much lower than its all-time high of over $45 billion.

IWG share price could benefit as WeWork stock implodes

NEW YORK--(BUSINESS WIRE)---- $WE #WeWork--WeWork Announces CEO Transition.

WeWork Announces CEO Transition

WeWork is a leader in flexible office solutions with 779 locations across the globe. The company has fallen from grace, with company valuation falling from over $47 billion in 2019 to a market cap of less than $1 billion now.

WeWork: Business Model Doesn't Work

WeWork Inc. (NYSE:WE ) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET Company Participants Kevin Berry - Senior Vice President, Investor Relations Sandeep Mathrani - Chairman and Chief Executive Officer Andre Fernandez - Chief Financial Officer Conference Call Participants Vikram Malhotra - Mizuho Omotayo Okusanya - Credit Suisse Alexander Goldfarb - Piper Sandler Tom Catherwood - BTIG Brett Knoblauch - Cantor Fitzgerald Operator Good day and welcome everyone to the WeWork First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

WeWork Inc. (WE) Q1 2023 Earnings Call Transcript

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WeWork Inc. (WE) came out with a quarterly loss of $0.34 per share versus the Zacks Consensus Estimate of a loss of $0.40. This compares to loss of $0.57 per share a year ago.

WeWork Inc. (WE) Reports Q1 Loss, Tops Revenue Estimates

WeWork (NYSE: WE ) reported first quarter results for 2023. WeWork posted a loss per share of 34 cents.

WeWork (WE) Stock Earnings: WeWork Meets EPS, Revenue Estimates

Shares of WeWork Inc. WE fell 0.6% in premarket trading Tuesday, after the flexible work space provider reported a first-quarter loss that narrowed a little more than expected and revenue that was in line, but provided a second-quarter outlook that was below Wall Street projections. Net losses narrowed to $264 million, or 34 cents a share, from $435 million, or 57 cents a share, in the year-ago period.

WeWork stock falls as losses narrow a little more than forecast but the revenue outlook is below projections

NEW YORK--(BUSINESS WIRE)---- $WE #WeWork--WeWork Reports First Quarter 2023 Results.

WeWork Reports First Quarter 2023 Results

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NEW YORK--(BUSINESS WIRE)---- $WE #WeWork--WeWork Inc. (“WeWork” or the “Company”) (NYSE: WE) today announced the expiration and final results of the previously announced separate offers to exchange (each an “Exchange Offer” and, together, the “Exchange Offers”) by WeWork Companies LLC (the “Issuer”) and WW Co-Obligor Inc. (the “Co-Obligor” and together with the Issuer, the “Issuers”), each a subsidiary of the Company, any and all of the Issuers' outstanding 7.875% Senior Notes due 2025 (the “Old 7.875% Notes”.

WeWork Announces Expiration and Final Results of the Exchange Offers and Consent Solicitations and Waiver and Satisfaction of the Minimum Participation Condition

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A former San Francisco WeWork building has seen its property value slashed by about 66%, according to Trepp.

Former WeWork office building in San Francisco sees value slashed by about 66%

NEW YORK--(BUSINESS WIRE)--WeWork Inc. (NYSE: WE) (the “Company”), the leading global flexible space provider, today announced that on April 12, 2023, it received a notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) notifying the Company that it is not in compliance with the NYSE's continued listing standards because as of April 11, 2023, the average closing price of the Company's Class A Common Stock (the “Common Stock”) was less than $1.

WeWork Receives Continued Listing Standard Notice from NYSE

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NEW YORK--(BUSINESS WIRE)--WeWork Inc. (“WeWork” or the “Company”) (NYSE: WE) today announced the early tender results of the previously announced separate offers to exchange (each an “Exchange Offer” and, together, the “Exchange Offers”) by WeWork Companies LLC (the “Issuer”) and WW Co-Obligor Inc. (the “Co-Obligor” and together with the Issuer, the “Issuers”), each a subsidiary of the Company, any and all of the Issuers' outstanding 7.875% Senior Notes due 2025 (the “Old 7.875% Notes”) and 5.

WeWork Announces Early Tender Results of the Exchange Offers and Consent Solicitations and Changes to the Late Exchange Consideration

A WeWork Inc. WE venture with private equity firm Rhone Group has defaulted on a loan on a downtown San Francisco office building, according to a report Thursday. Bloomberg News reported that the venture defaulted on a $240 million loan on building at 600 California St. in San Francisco's financial district.

WeWork venture defaults on San Francisco office building: report

NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of WeWork Inc. (NYSE:WE, WE-WT) concerning the Company and its directors' and officers' possible violations of state laws.

Glancy Prongay & Murray LLP Announces Investigation of WeWork Inc.

NEW YORK--(BUSINESS WIRE)---- $WE #WeWork--WeWork Announces Date of First Quarter 2023 Results Conference Call

WeWork Announces Date of First Quarter 2023 Results Conference Call

A "poison pill" plan will strongly discourage an ownership change in the company. It will also preserve certain tax benefits that can be used in the future.

News for WeWork Stock (WE)