WeWork gets $3 billion in new funding from SoftBank

FILE PHOTO - A logo of U.S. co-working firm WeWork is pictured during a signing ceremony in Shanghai, China April 12, 2018. Jackal Pan via REUTERS

(Reuters) - U.S. shared office space provider WeWork Cos has secured an additional $3 billion in funding from Japan’s SoftBank Group Corp, according to an investor presentation seen by Reuters.

The latest funding was in the form of a warrant, under which SoftBank will pay WeWork $1.5 billion on Jan. 15 and the remaining on April 15.

WeWork in July said it had raised $500 million from investors, including Temasek Holdings and SoftBank Group Corp.

SoftBank was in discussions to buy a majority stake in WeWork, a source told Reuters in October.

Reporting by Vibhuti Sharma in Bengaluru; and Angela Moon; Editing by Arun Koyyur

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