SoftBank could buy 25% of Adam Neumann’s WeWork package for $ 480 million

WeWork co-founder Adam Neumann and SoftBank are approaching a settlement deal that would entitle the former CEO to a $ 480 million payment for about 25 percent of his shares in the company, said a well-known person in the field. for Deidre Bosa of CNBC. That’s half the number of shares SoftBank originally intended to buy, the person said.

If a transaction were completed, SoftBank would acquire approximately $ 1.5 billion worth of shares from WeWork investors. The deal would account for 10.5% of WeWork shares, with a price of $ 19.19 per share, which is the price originally agreed, the person said. Neumann will remain a major shareholder in the company.

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

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