secwatch.observer — SEC 8-K summary
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Issuer:     WeWork Inc. (—)
CIK:        0001813756
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001193125-24-159419
Event type: other_material
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WeWork emerges from Chapter 11, cancels all existing equity, names new CEO and board
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- Plan effective June 11, 2024; 52.8M existing common shares and 25.3M warrants cancelled with no value.
- Up to 71.2M new common shares issued to allowed claimholders, representing ~100% of voting securities.
- David Tolley removed as CEO; John C. Santora appointed CEO effective June 12 and joins board.
- New board: Anant Yardi, Jason Yardi, Adnan Ahmad, Arnold Brier, Daniel Ehrmann, Jagannath Iyer.
- Exit credit facilities: $441.6M Junior TLC (matures 2030) and $450M Senior LC (Goldman $264.8M, JPM $185.2M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813756/000119312524159419/0001193125-24-159419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813756/000119312524159419/d803133d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-159419

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer