US Real estate giant WeWork to go public via Special Purpose Acquisition Company (SPAC) merger
The merger deal with BowX Acquisition Corp will value WeWork at $9 billion
The company’s earlier IPO attempt was failed as SoftBank bailed out
WeWork was valued at $47 Billion before that episode in 2019
It registered a $3.2 Billion loss in 2020
During the pandemic period, the company’s valuation dropped to $8 billion
The company will raise an additional $1.3 billion from key investors before the new IPO
Shares of BowX surged 20.4 per cent to close at $11.71 after IPO speculations
