WeWork has agreed to merge with a special-purpose acquisition company in a deal that would take the shared-office provider public nearly two years after its high-profile failure to launch a traditional IPO. The planned merger with the BowX Acquisition Corp. SPAC values WeWork at $9 billion including debt, the companies announced Friday, confirming an earlier… Continue reading WeWork Plans to Go Public in $9B SPAC Merger
Tag: blank check investments
SPAC Frenzy Emboldens Silicon Valley Startups to Forgo Venture Funding
California aerospace startup Archer Aviation Inc. has a multibillion-dollar vision of flying people around town in autonomous electric helicopters. It doesn’t have revenue or a vehicle ready for liftoff, but that hasn’t slowed the three-year-old company. Instead of toiling away in obscurity with a shoestring budget, the traditional way for startups to spend their formative… Continue reading SPAC Frenzy Emboldens Silicon Valley Startups to Forgo Venture Funding