---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-042062"
form_type: "8-K"
ticker: null
cik: "0001813756"
company_name: "WeWork Inc."
filed_at: "2023-08-31T23:59:59+00:00"
generated_at: "2026-06-11T01:23:02.499955+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# WeWork draws $312.5M in new PIK notes at 15% from SoftBank and third party

## Summary
- Issued $189.6M Series II and $122.9M Series III First Lien Senior Secured PIK Notes due 2027 at 15.000%.
- Series II sold to SoftBank Vision Fund II-2; Series III to a third-party investor.
- Post issuance, $306.25M Series II and $181.25M Series III aggregate principal outstanding.
- Notes are unregistered, exempt under Section 4(a)(2) of Securities Act.
- Warrants delisted from NYSE; now trade on OTC Pink under symbol WEWOW (not part of debt event).

## SEC filing metadata
- accession: 0001140361-23-042062
- form_type: 8-K
- cik: 0001813756
- company_name: WeWork Inc.
- filed_at: 2023-08-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1813756/000114036123042062/0001140361-23-042062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1813756/000114036123042062/brhc20058164_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-042062
- JSON: https://secwatch.observer/filing/0001140361-23-042062.json
- Plain text: https://secwatch.observer/filing/0001140361-23-042062.txt

## Key facts
- Debt Financings
  WeWork Inc. incurred senior notes of $189.6 million in aggregate principal amount of New Series II Notes and $122.9 million in aggregate principal amount of with SoftBank Vision Fund II-2 L.P. and a third party investor at 15.000% First Lien Senior Secured PIK Notes maturing due 2027.
  - Instrument: senior notes
  - Principal: $189.6 million in aggregate principal amount of New Series II Notes and $122.9 million in aggregate principal amount of
  - Counterparty: SoftBank Vision Fund II-2 L.P. and a third party investor
  - Rate: 15.000% First Lien Senior Secured PIK Notes
  - Maturity: due 2027
  - Event: incurrence
  source text: On August 25, 2023, WeWork Companies LLC, a Delaware limited liability company (the "Issuer") and wholly-owned subsidiary of WeWork Inc., a Delaware corporation (the "Company"), WW Co-Obligor Inc., a Delaware corporation and wholly-owned subsidiary of the Issuer (the "Co-Obligor" and, together with the Issuer, the "Issuers"), drew under their existing delayed draw notes commitments entered into in March and May 2023, as applicable, and, in connection therewith, entered into a supplemental indenture (the "Second Supplemental Indenture") to the Base Indenture (as defined below) with the guarantors party thereto (collectively, the "Guarantors") and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), pursuant to which the Issuers issued $189.6 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series II (the "New Series II Notes"), and $122.9 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Not
  evidence_url: https://www.sec.gov/Archives/edgar/data/1813756/000114036123042062/0001140361-23-042062-index.htm
- Material Agreements
  WeWork Inc. entered into Second Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $189.6 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027 (effective 2023-08-25).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $189.6 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027
  - Effective: 2023-08-25
  source text: On August 25, 2023, WeWork Companies LLC, a Delaware limited liability company (the “Issuer”) and wholly-owned subsidiary of WeWork Inc., a Delaware corporation (the “Company”), WW Co-Obligor Inc., a Delaware corporation and wholly-owned subsidiary of the Issuer (the “Co-Obligor” and, together with the Issuer, the “Issuers”), drew under their existing delayed draw notes commitments entered into in March and May 2023, as applicable, and, in connection therewith, entered into a supplemental indenture (the “Second Supplemental Indenture”) to the Base Indenture (as defined below) with the guarantors party thereto (collectively, the “Guarantors”) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), pursuant to which the Issuers issued $189.6 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series II (the “New Series II Notes”), and $122.9 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Not
  evidence_url: https://www.sec.gov/Archives/edgar/data/1813756/000114036123042062/0001140361-23-042062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.