JPMorgan has helped line up a giant loan for WeWork and lent hundreds of millions of dollars to its CEO. With the firm’s planned IPO increasingly in doubt, that’s looking less and less smart, writes GinaChon.
WeWork owner The We Company said on Sept. 16 that it expected to complete its initial public offering this year, postponing an IPO that had been expected in September.
Entities associated with JPMorgan, including its digital growth fund, in aggregate have at least a 5% stake in the office-sharing startup, according to We’s prospectus.
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