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Of course it did.
Just about every single late-stage company in private markets at the moment has been contacted by a blank-check company looking for a deal.
Kicking off the day, office-sharing startup WeWork has reportedly engaged in talks to combine with a special-purpose acquisition company, per the Wall Street Journal, in a deal that could take the business public and value it around $10 billion. The SPAC in question is Bow Capital Management, run by the owner of the NBA’s Sacramento Kings, Vivek Ranadivé.
If a deal were to be struck, it would be a surprisingly fast return to the public markets for WeWork, whose disastrous attempt at going public in 2019 left its valuation slashed to a fraction of … Read the rest