SoftBank can buy $ 25% of Adam Neumann’s WeWork stake for $ 480 million

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

If a deal is finalized, SoftBank would buy approximately $ 1.5 billion in shares from WeWork’s first investors. The deal would represent 10.5% of WeWork’s shares, at a price of $ 19.19 per share, which is the price that was initially agreed, the person said. Neumann would remain the company’s main shareholder.

SoftBank contacted Neumann after a report last month that WeWork was in negotiations to combine with an SPAC affiliated with Bow Capital Management, the source said.

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