WeWork to Restate Results Due to Classification Error With Its SPAC Acquirer
WeWork Inc. said in a securities filing that it would restate several quarters of its results, including its latest one, and that management has concluded there was a material weakness in its internal control.
The office-sharing company, which went public in October through a combination with BowX Acquisition Corp., a special-purpose acquisition company, said Wednesday that the reinstatement relates to accounting classification of common shares issued as part of BowX’s initial public offering.
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