WeWork (WEWKQ) just unveiled an update.
WeWork Inc. has announced that its Chapter 11 bankruptcy plan, confirmed by the court, will see payments made to various claim holders, while all outstanding shares and warrants will be cancelled. Investors are cautioned against speculative trading and relying on unaudited financial reports during this restructuring phase. The company’s recent operating report reflects $9.9 billion in assets and $9.2 billion in liabilities, but these figures are preliminary and not indicative of future results. The plan includes releases and settlements as part of an effort to resolve the bankruptcy efficiently.
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