WeWork is aiming to go public in September, earlier than investors had expected.
According to The Wall Street Journal, the company is expected to announce $5 to $6 billion asset-backed loans in the forthcoming weeks.
The credit will reduce the amount WeWork needs to raise in its IPO, which will increase the possibility of the company’s success as it is facing losses. The assets will decrease the sum WeWork needs to bring up in the IPO, which could build the likelihood of a successful offering.
However, the company would still be proposing several billion dollars & It is expected that the IPO paperwork may become public in August, but the actual listing would be done in September.
The company has raised $10 billion till now in venture funding and debt funding since its establishment in 2011.
Previously, news came that the sharing workspace company was losing $219,000 every hour. The company lost $1.93 billion in 2018 alone.