WeWork Makes $9 Billion SPAC Deal in New Path to Go Public (1)

WeWork agreed to sell itself to a blank-check company in a deal to take the troubled office-sharing startup public almost two years after a high-profile failed listing.

The agreement will merge WeWork with BowX Acquisition Corp., valuing it at $9 billion including debt. It will also raise $1.3 billion for WeWork, including $800 million from a private placement with investors including Insight Partners, funds managed by Starwood Capital Group, and Fidelity Management.

New York-based WeWork, co-founded by Adam Neumann and heavily backed by SoftBank Group Corp., was valued at as much as $47 billion two years ...