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Latest SPAC News: WeWork sales hit monthly high for 2021; Babylon secures $200m sustainability investment
WeWork Sales Hit Monthly High for 2021 in September
WeWork Cos. said its September revenue reached $228 million, its highest monthly sales this year, as the company prepares to list on the New York Stock Exchange.
At an online investor presentation Thursday, WeWork CEO Sandeep Mathrani painted a bright future for the flexible office space company, despite the delays in the return to the workplace caused by the coronavirus pandemic.
Preliminary third-quarter revenue totaled $658 million, up from $593 million in the prior quarter, the company said. Occupancy rates continued to climb, hitting 60% at the end of September, up from 52% in the prior quarter. Two years ago, its occupancy rates hovered above 70%.
WeWork is in the final stages of a plan to go public via a $9 billion merger with BowX Acquisition Corp. (NASDAQ:BOWX).READ
Babylon Secures New $200m Sustainability-Linked Investment to Fuel Rapid Growth Plan
Babylon Holdings Limited, one of the world’s fastest-growing digital healthcare companies, today announced that it has secured a sustainability-linked investment of up to $200 million from Albacore Capital Group, a strategic capital investment firm.
Together with already committed PIPE capital of $230 million from institutional and strategic investors, Babylon will now have access to as much as $775 million of capital following the merger with Alkuri Global Acquisition Corp. (NASDAQ: KURI) assuming no redemptions, with a minimum of $430 million of capital guaranteed to continue fueling Babylon’s sustained growth.READ