Adam Neumann

SoftBank Group Announces Settlement Agreement with Adam Neumann and WeWork Special Committee

Retrieved on: 
Friday, February 26, 2021
Banking, Legal, Professional services, Finance, WeWork, Companies, SoftBank Group, Marcelo Claure, Adam Neumann, Business, Economy of Japan

SoftBank Group Corp. (SoftBank) today announced that it has entered into a settlement agreement with the Special Committee of the Board of Directors of WeWork Inc. (formerly referred to as The We Company) (the Special Committee) and WeWorks founder, Adam Neumann.

Key Points: 
  • SoftBank Group Corp. (SoftBank) today announced that it has entered into a settlement agreement with the Special Committee of the Board of Directors of WeWork Inc. (formerly referred to as The We Company) (the Special Committee) and WeWorks founder, Adam Neumann.
  • This agreement is the result of all parties coming to the table for the sake of doing what is best for the future of WeWork.
  • SoftBank and WeWork have spent the past year transforming the WeWork business and executing on our plan towards profitability.
  • -- Marcelo Claure, Executive Chairman of WeWork, CEO of SoftBank Group International, and Corporate Officer, Executive Vice President and COO of SoftBank
    The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world.

SoftBank Group Announces End of WeWork Tender Offer Because Closing Conditions Not Met

Retrieved on: 
Thursday, April 2, 2020
Finance, Consulting, Professional services, Commercial Building & Real Estate, Construction & Property, WeWork, SoftBank Group, Companies, Economy of Japan, Adam Neumann, Telecommunications, WeWork, SoftBank Group, Companies, Economy of Japan, Adam Neumann, Telecommunications

SoftBank and the SoftBank Vision Fund have committed more than $14.25 billion to WeWork to date, including $5.45 billion since October 2019.

Key Points: 
  • SoftBank and the SoftBank Vision Fund have committed more than $14.25 billion to WeWork to date, including $5.45 billion since October 2019.
  • In December 2019, SoftBank made up to $2.2 billion in debt financing available to WeWork via unsecured notes to be issued by WeWork.
  • When the tender offer was negotiated in October 2019, SoftBank, WeWork, WeWorks Special Committee, Adam Neumann and SoftBank Vision Fund agreed that SoftBank would not have to close the tender offer unless certain specifically negotiated conditions were satisfied.
  • Several of those conditions were not met, leaving SoftBank no choice but to terminate the tender offer.

WeWork Posts Presentation in Connection With Past Investor Discussions

Retrieved on: 
Friday, November 8, 2019
Commercial Building & Real Estate, Other Professional Services, Construction & Property, Professional services, WeWork, Adam Neumann

The We Company (WeWork or the Company) today made public on its website a presentation used with prospective credit investors regarding the Company and its business.

Key Points: 
  • The We Company (WeWork or the Company) today made public on its website a presentation used with prospective credit investors regarding the Company and its business.
  • As part of discussions the Company had regarding a potential financing transaction in October 2019, WeWork disclosed certain information regarding the Company and its business to prospective investors under confidentiality restrictions.
  • The presentation has been uploaded to the Company's website, which can be accessed through the following link: wework.com/newsroom/posts/investor-presentation-october-2019 .
  • WeWork provides members around the world with space, community, and services through both physical and virtual offerings.

WeWork’s Board of Directors Announces Leadership Changes

Retrieved on: 
Tuesday, September 24, 2019
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, WeWork, Business, Adam Neumann, Board of directors, Articles, Economy

WeWorks Board of Directors today announced the following leadership changes: Co-founder Adam Neumann has decided to step back from his role as CEO, and will continue on as non-executive chairman of the board.

Key Points: 
  • WeWorks Board of Directors today announced the following leadership changes: Co-founder Adam Neumann has decided to step back from his role as CEO, and will continue on as non-executive chairman of the board.
  • WeWorks Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice chairman, have been named co-CEOs of the company.
  • He has created one of the fastest growing businesses in history, and my fellow directors and I thank him for his leadership.
  • Our board of directors is excited to welcome Artie and Sebastian as leaders of WeWork in its next phase, and are pleased by the companys rapid growth trajectory and industry-leading position in the market.