[nostromo]

> A notice sent to WeWork shareholders Tuesday said that SoftBank believes regulatory probes into the startup’s business [...] give it an out under the deal struck last fall to purchase $3 billion of WeWork shares from existing investors.

> That will include Adam Neumann, former chief executive of WeWork parent We Co., who had the right to sell up to $970 million in stock as part of the October deal that led to his ouster from the company’s board.

Wow.

[gxqoz]

I'm having a hard time following these two paragraphs. Is it saying that SoftBank invested $3 billion into WeWork which, among other things, funded Neumann's $970 million exit? And they now think they can recover that $3 billion and then deprive Neumann of at least some of that $970 million?

[x0x0]

Softbank invested $1.5b, loaned up to $5b, and agreed to purchase $3b from existing shareholders. The last is apparently being... renogotiated.

[toomuchtodo]

Cool get out of jail free card for nuking Neumann’s parachute. Whomever put that idea forward earned their fee.

[dforrestwilson]

Good excuse now that they see that commercial real estate is about to get nuked.