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> A notice sent to WeWork shareholders Tuesday said that SoftBank believes regulatory probes into the startup’s business [...] give it an out under the deal str
by nostromo 7y ago
> A notice sent to WeWork shareholders Tuesday said that SoftBank believes regulatory probes into the startup’s business [...] give it an out under the deal struck last fall to purchase $3 billion of WeWork shares from existing investors.
> That will include Adam Neumann, former chief executive of WeWork parent We Co., who had the right to sell up to $970 million in stock as part of the October deal that led to his ouster from the company’s board.
Wow.
- toomuchtodo 7y agoCool get out of jail free card for nuking Neumann’s parachute. Whomever put that idea forward earned their fee.
- gxqoz 7y agoI'm having a hard time following these two paragraphs. Is it saying that SoftBank invested $3 billion into WeWork which, among other things, funded Neumann's $970 million exit? And they now think they can recover that $3 billion and then deprive Neumann of at least some of that $970 million?
- x0x0 7y agoSoftbank invested $1.5b, loaned up to $5b, and agreed to purchase $3b from existing shareholders. The last is apparently being... renogotiated.
- deleted 7y ago[deleted]
- dforrestwilson 7y agoGood excuse now that they see that commercial real estate is about to get nuked.