SoftBank can buy a $ 25% stake in Adam Neumann in WeWork for $ 480 million


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Adam Neumann, CEO of WeWork.

Eduardo Munoz Reuters

WeWork co-founder Adam Neumann and SoftBank are approaching a settlement agreement that would entitle the former CEO to a $ 480 million payment for approximately 25% of his shares in the company, said a person familiar Deidre Bosa. That’s half as many shares as SoftBank originally intended to buy, the person said.

If the deal closes, SoftBank would buy back about $ 1.5 billion in shares from early WeWork investors. The deal would represent 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 the company’s major shareholder.

SoftBank followed Neumann report last month, WeWork negotiated a combination with SPAC linked to Bow Capital Management, the source said.

Talks between Softbank and Neumann were first reported on Monday Wall Street Journal.

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