• Triton

Disclosure was a major factor in WeWork's inability to IPO

In an appearance today on Bloomberg TV, Triton's Rett Wallace discussed the role of WeWork's limited disclosure in its IPO prospectus as a key factor in its inability to generate a sufficient market for its shares. "Our perspective on it was fairly straightforward," said Wallace. "The loss profile of the company was so big that investors needed to be able to do work to figure out how they were not going to be losing $2 billion per year ad infinitum. If the disclosure had been different you could have had a very different reception from buyers. And in addition, there were the 'own goal' unforced errors of the governance. Nothing from our customers indicated that the core proposition of WeWork was objectionable. It was really the way that the offering was handled." Excerpt from Bloomberg TV - HERE