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Office sharing firm WeWork has secured an additional $3 billion from Japanese tech giant SoftBank, bringing its total funding and commitments to $6.4 billion.
The SoftBank cash comes in the form of a warrant, giving WeWork the option of new cash in the first half of 2019. The warrant automatically converts to stock in September at a price that gives WeWork a valuation of around $42 billion - provided the company doesn't go public or sell in the meantime.
WeWork described the funding as "opportunistic financing" available to the company on attractive terms. Business Insider $4 to raise further funding at a $35 billion valuation.
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