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." 

Invest in IPO shares before the stock hits the market with ClickIPO. Check it out here

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!

Applied Genetic Notches Sell-Side Upgrade After Releasing Interim Study Data

Stocks That Hit 52-Week Lows On Monday