Co-founder Adam Neumann (Adam Neumann) has taken another step to push for a repurchase of WeWork.
The Zhitong Finance App learned that according to foreign media reports on Thursday, when WeWork was seeking hundreds of millions of dollars in capital to escape the fate of bankruptcy and sale, its co-founder Adam Neumann (Adam Neumann) took another step to push for the repurchase of the company.
Foreign media quoted two people familiar with the matter as reporting that the co-working space provider is facing a cash shortage and needs as much as 400 million US dollars in new capital to get out of trouble.
In response, Alex Spiro (Alex Spiro), an attorney at Neumann's real estate company Flow, said in an interview that the company and its financial partners would beat any other bid WeWork received by 10% more.
Last month, according to people familiar with the matter, Adam Neuman had offered more than $500 million to buy back WeWork.
The company said earlier this month that it aims to get rid of bankruptcy protection in the US and Canada by May 31, and has negotiated rent reduction promises of more than $8 billion, or more than 40%, with landlords.