After months of waiting, the WeWork IPO finally seems to be underway.
Although the coworking giant filed the IPO paperwork confidentially months ago, Bloomberg reported last week that the company might unveil its IPO documentation this week.
WeWork is looking to raise about $3.5 billion, making it the second-largest biggest IPO this year after Uber’s IPO in May. WeWork expects its IPO to occur in September.
As the company lost $1.9 billion in 2018, $3.5 billion in WeWork IPO proceeds and $4 billion in available cash may not last long.
WeWork is expected to raise $6 billion through debt, which is contingent on the WeWork IPO garnering at least $3 billion.
While the Uber and Slack IPOs haven’t met expectations, Beyond Meat is still trading well above its IPO price.
While Beyond Meat stock is off its all-time high, WeWork won’t mind repeating its IPO success.