Norobiik @#WeWork debuted through a special purpose acquisition company in 2021 but has since lost about 98% of its value. The company in mid-August announced a 1-for-40 reverse stock split to get its shares trading back above $1, a requirement for keeping its New York Stock Exchange listing.
WeWork, the #OfficeSharing company once valued at $47B, files for #BankruptcyProtection
https://www.nbcnews.com/business/business-news/wework-bankruptcy-chapter-11-rcna123943
WeWork, the office-sharing company once valued at $47B, files for bankruptcy protection
Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in New Jersey federal court Monday, saying that it had entered into agreements with the vast majority of its secured note holders and that it intended to trim “non-operational” leases.