WeWork confirms an up to $8 billion lifeline from SoftBank Group; names new executive chairman
https://techcrunch.com/2019/10/22/wework-confirms-an-up-to-8-billion-lifeline-from-softbank-group-names-new-executive-chairman/
Confirming earlier reports, The We Company and SoftBank Group agreed to a new capital infusion which will see SoftBank committing $5 billion in new financing and issuing a tender offer for another $3 billion in buybacks for shareholders.
The company also said it would accelerate an existing commitment to put $1.5 billion into the short-term real estate rental company.