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SoftBank would buy about 25% of Adam Neumann’s stake in WeWork for $480 million under proposed settlement

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WeWork co-founder Adam Neumann and SoftBank are nearing a settlement agreement that; would entitle the former CEO to a payout of $480 million for approximately 25% of his shares in the company; a person familiar with the matter said.

 

That is half as many shares as SoftBank originally intended to buy, this person said.

 

Should a deal be finalized, SoftBank would purchase approximately $1.5 billion of shares from early WeWork investors.

 

The deal would represent 10.5% of WeWork shares, with the price at $19.19 per share; which is the price that was initially agreed upon, the person said.

 

 

 

 

Neumann would remain a major shareholder in the company.

SoftBank reached out to Neumann following a report last month that WeWork was in talks to combine with a SPAC affiliated with Bow Capital Management, the source said.

 

Talks between Softbank and Neumann were first reported on Monday by the Wall Street Journal.

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