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BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, BOWXW) is reminding stockholders to vote on the proposed business combination with WeWork Inc. The special meeting is set for October 19, 2021. Stockholders of record as of September 14, 2021, should cast their votes regardless of current ownership. BowX's board recommends a 'FOR' vote on the merger. The meeting will be virtual, and stockholders are encouraged to read the proxy statement issued on September 20, 2021, for detailed information.
WeWork hosted a virtual Investor Day as it prepares for its merger with BowX Acquisition Corp, anticipated to close around October 21, 2021. Preliminary Q3 results show total revenue of $658 million, marking five consecutive months of growth, with September revenue reaching $228 million. Occupancy rates improved to 60%, and new desk sales totaled 84,000. CEO Sandeep Mathrani emphasized the firm's transformation and the growth potential of flexible workspaces, having streamlined operations and achieved significant rent savings.
BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, BOWXW) is urging stockholders to vote on the proposed business combination with WeWork ahead of the special meeting on October 19, 2021. Stockholders of record as of September 14, 2021 can vote regardless of whether they still own shares. BowX recommends voting "FOR" the merger and related proposals detailed in the proxy statement dated September 20, 2021. The meeting will be virtual, and stockholders are encouraged to participate and vote promptly.
WeWork Inc. announced an Investor Day on October 7, 2021, at 11:30 AM ET, featuring CEO Sandeep Mathrani and CFO Benjamin Dunham. The event will include a presentation and a Q&A session, with a live webcast available on the Investor Relations webpage. WeWork is set to merge with BowX Acquisition Corp. (NASDAQ: BOWX) with an expected closing on or about October 21, 2021.
BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, BOWXW) has scheduled a special stockholder meeting on October 19, 2021, to vote on the proposed business combination with WeWork. The transaction aims to close on or about October 21, 2021, subject to approval. This merger is significant as WeWork will subsequently be listed on the New York Stock Exchange under the symbol “WE.” BowX's Board recommends voting 'FOR' all proposals at the meeting.
WeWork and BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, BOWXW) have announced a definitive merger agreement, valuing WeWork at approximately $9 billion. This deal will provide WeWork with $1.3 billion in cash to support its growth. Over the past year, WeWork has transformed its business model, improving free cash flow by $1.6 billion and focusing on its core flexible space operations. The merger is expected to close by Q3 2021, contingent upon BowX shareholder approval.
