BowX Lines up $150M Backstop Ahead of WeWork Merger Vote

WeWork

BowX Acquisition in an 8-K filing said it had entered into a backstop agreement with DTZ Worldwide Limited for up to $150 million. The additional funding is a safety net against any redemptions ahead of the SPAC’s shareholder vote today on whether to merge with WeWork.

BowX also has an $800 million PIPE to support the $1.3 billion deal. Read more.

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