{"id":781674,"date":"2023-09-01T16:51:14","date_gmt":"2023-09-01T20:51:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/wework-inc-announces-completion-of-1-for-40-reverse-stock-split\/"},"modified":"2023-09-01T16:51:14","modified_gmt":"2023-09-01T20:51:14","slug":"wework-inc-announces-completion-of-1-for-40-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wework-inc-announces-completion-of-1-for-40-reverse-stock-split\/","title":{"rendered":"WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWeWork Inc. (NYSE: WE) (\u201cWeWork\u201d or the \u201cCompany\u201d), the leading global flexible space provider, today announced that it has completed the previously announced 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock. The reverse stock split became effective at 4:01 p.m. Eastern Time today, and the Company\u2019s Class A Common Stock will begin trading on a split-adjusted basis at the market open on September 5, 2023. The reverse stock split was effected to enable the Company to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange. The Company does not expect the reverse stock split to impact its current or future business operations.<\/p>\n<p>\nThe Company\u2019s Class A Common Stock will continue to trade under the symbol \u201cWE,\u201d and the new CUSIP number for the Company\u2019s Class A Common Stock following the reverse stock split is 96209A401.<\/p>\n<p>\nStockholders owning shares of Class A Common Stock or Class C Common Stock via a bank, broker, or other nominee will have their positions automatically adjusted to reflect the reverse stock split and will not be required to take further action in connection with the reverse stock split, subject to their brokers\u2019 particular processes.<\/p>\n<p>\nSource: We Work<\/p>\n<p>\nCategory: Investor Relations<\/p>\n<p><b><span class=\"bwuline\">About WeWork<\/span><\/b><\/p>\n<p>\nWeWork Inc. (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we\u2019ve become the leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwework.com&amp;esheet=53547615&amp;newsitemid=20230901569092&amp;lan=en-US&amp;anchor=wework.com&amp;index=1&amp;md5=87490571c775bd53f86ae45372952bc5\">wework.com<\/a>.<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nCertain statements made in this press release may be deemed \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward looking statements generally are identified by the words \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cpipeline,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although WeWork believes the expectations reflected in any forward-looking statement are based on reasonable assumptions, it can give no assurance that its expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to, WeWork\u2019s ability to implement its business plan; the reverse stock split and its impact on the trading volume and price of WeWork\u2019s common stock and warrants; WeWork\u2019s ability to regain compliance with the listing rules of the New York Stock Exchange and maintain its continued listing; WeWork\u2019s ability to refinance, extend, restructure or repay outstanding debt; its outstanding indebtedness; its liquidity needs to operate its business and execute its strategy, and related use of cash; its ability to raise capital through equity issuances, asset sales or the incurrence of debt; WeWork\u2019s ability to fully execute actions and steps that would be probable of mitigating the existence of substantial doubt regarding its ability to continue as a going concern; retail and credit market conditions; higher cost of capital and borrowing costs; impairments; its current and projected liquidity needs; changes in general economic conditions, including as a result of inflation, the COVID-19 pandemic and the conflict in Ukraine; WeWork\u2019s expectations regarding its exits of underperforming locations, including the timing of any such exits and its ability to retain its members; delays in customers and prospective customers returning to the office and taking occupancy, or changes in the preferences of customers and prospective customers with respect to remote or hybrid working, as a result of the COVID-19 pandemic leading to a parallel delay, or potentially permanent change, in receiving the corresponding revenue; the health of the commercial real estate market; and the impact of foreign exchange rates on WeWork\u2019s financial performance. Forward-looking statements speak only as of the date they are made. WeWork discusses these and other risks and uncertainties in its annual and quarterly periodic reports and other documents filed with the U.S. Securities and Exchange Commission. WeWork undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by law.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230901569092r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230901569092\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230901569092\/en\/<\/a><\/span><\/p>\n<p>\nInvestors<br \/>\n<br \/>Kevin Berry<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor@wework.com\">investor@wework.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"mailto:kevin.berry2@wework.com\">kevin.berry2@wework.com<\/a><\/p>\n<p>\nMedia<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@wework.com\">press@wework.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Other Construction &amp; Property Professional Services Commercial Building &amp; Real Estate Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230901569092\/en\/1701063\/3\/WeWork_logo_transparent-black_%282%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split NEW YORK&#8211;(BUSINESS WIRE)&#8211; WeWork Inc. (NYSE: WE) (\u201cWeWork\u201d or the \u201cCompany\u201d), the leading global flexible space provider, today announced that it has completed the previously announced 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock. The reverse stock split became effective at 4:01 p.m. Eastern Time today, and the Company\u2019s Class A Common Stock will begin trading on a split-adjusted basis at the market open on September 5, 2023. The reverse stock split was effected to enable the Company to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange. The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wework-inc-announces-completion-of-1-for-40-reverse-stock-split\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-781674","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wework-inc-announces-completion-of-1-for-40-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"WeWork Inc. Announces Completion of 1-for-40 Reverse Stock Split NEW YORK&#8211;(BUSINESS WIRE)&#8211; WeWork Inc. (NYSE: WE) (\u201cWeWork\u201d or the \u201cCompany\u201d), the leading global flexible space provider, today announced that it has completed the previously announced 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock. The reverse stock split became effective at 4:01 p.m. Eastern Time today, and the Company\u2019s Class A Common Stock will begin trading on a split-adjusted basis at the market open on September 5, 2023. The reverse stock split was effected to enable the Company to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange. The &hellip; Continue reading &quot;WeWork Inc. 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