Adam Neumann, the former CEO and co-founder of WeWork, has reportedly submitted a conditional purchase offer of between 500 and 600 million dollars for the company. Sources close to the deal have confirmed that Neumann has assembled a group of financial partners to present the potential offer. Despite previous suggestions that Third Point fund or the Baupost Group would be involved in the deal, it is now understood that these financial partners do not include them.
WeWork was once valued at around $47 billion. In November 2023, the company founded in 2010 by Adam Neumann and Miguel McKelvey filed for Chapter 11 bankruptcy protection with a debt of 18,656 million dollars and assets worth 15,063 million dollars. The pandemic in 2020 further exacerbated the company’s challenges due to its focus on renting office space. Despite these setbacks, WeWork is focused on emerging from bankruptcy protection in the second quarter as a financially sound and profitable company.
