WeWork approves reverse stock split to increase per share trading price

WeWork, a US-based multinational office and coworking space rental company, plans to implement a reverse stock split by issuing one new share for every 40 old Class A and Class C shares. This decision follows board approval and aligns with the shareholders' authorization at WeWork's annual meeting on June 12th. The split, effective September 1st, aims to boost the company's stock price to meet the New York Stock Exchange's requirement of a minimum one-dollar share price for listing, with no expected impact on ongoing business operations.

Upon the reverse split's activation, every 40 existing shares will merge into one share, uniformly affecting Class A and Class C ordinary shares, ensuring shareholders maintain their proportional ownership. Importantly, fractional shares will not be given; instead, holders of Class A and Class C shares will receive a cash payment for such fractions.

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