WeWork Rejects Adam Neumann’s Acquisition Bid, Unveils Restructuring

WeWork has a new plan to get out of bankruptcy — and it doesn’t involve Adam Neumann, who wants to acquire the flexible office provider he created.

WeWork announced Monday that it has raised $450 million in equity funding, which it could use to emerge from Chapter 11. The company also said it has a plan in place to “eliminate all of its $4 billion of outstanding, prepetition debt obligations.”