Yahoo Finance’s Julie Hyman and Brian Sozzi discuss WeWork’s SPAC merger with BowX Acquisition Corp. as it attempts to go public.

Video Transcript

JULIE HYMAN: WeWork, it's coming public again. Oh, what's old is new again, I guess, but at a much lower valuation. $9 billion is the SPAC deal that is valuing WeWork there. And it's being acquired by BowX Acquisition, which was started by the founder of Tibco Software. That's the SPAC sponsor anyway, who's also one of the owners of the Sacramento Kings.

And there's also going to be a PIPE deal as part of this, a private investment in public equity. So WeWork's going to raise $1.3 billion. $800 million of that will be through that PIPE. And also, by the way, I should mention one of the SPAC advisors, Shaquille O'Neal, because what's a SPAC without a celebrity association these days? We're going to dig more into this a little bit later in the show. You can see those BowX shares are up 4.8%.