Market Overview

WeWork Withdraws IPO

Share:
WeWork Withdraws IPO

WeWork announced Monday that it will withdraw its S-1 filing as it seeks to postpone its initial public offering.

WeWork had filed S-1 paperwork Aug. 14 and had planned to list on the Nasdaq.

“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong,” co-CEOs Artie Minson and Sebastian Gunningham said in a joint statement.

“We are as committed as ever to serving our members, enterprise customers, landlord partners, employees and shareholders. We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future." 

The company's co-founder Adam Neumann stepped down from the position of CEO Tuesday, Sept. 24. 

Related Links:

'Smoke And Mirrors': CNBC Guests Struggle To Find Anything Positive To Say About WeWork

WeWork's We Company To List On Nasdaq

Photo courtesy of WeWork. 

Posted-In: WeWorkNews IPOs Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com