Axios on WeWork: "One source says that there's probably enough money to get through Thanksgiving, but not to Christmas."
Not piling on, but a serious question. Shouldn't the S-1 have had a risk factor like "if we are unable to complete this IPO, we may not be a going concern?"
Not piling on, but a serious question. Shouldn't the S-1 have had a risk factor like "if we are unable to complete this IPO, we may not be a going concern?"
If their FY end was 6/30 or 9/30, wouldn't they have gotten a qualified audit opinion if they actually are running out of money?
I'm not an accounting expert, but rereading the risk factors and liquidity sections, you do not get the sense they are out of money in 3 months!
I'm not an accounting expert, but rereading the risk factors and liquidity sections, you do not get the sense they are out of money in 3 months!
So the common pusbhack here is that is a not a risk faced by investors because you are only an investor if the IPO is completed, as pointed out by Matt Levine
Still strikes me as unsatisfactory investor protection/disclosure. The document at no point makes clear "we are running out of money in 3 months" (S-1/A filed 9/13). If not a Risk Factor, certainly should appear somewhere in the liquidity section. Maybe I'm just backseat driving.
