Filing Details

Accession Number:
0001193125-22-073519
Form Type:
13D Filing
Publication Date:
2022-03-10 19:00:00
Filed By:
Sb Global Advisers Ltd
Company:
Wework Inc.
Filing Date:
2022-03-11
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
SVF II WW Holdings (Cayman) Limited 0 349,247,299 0 349,247,299 349,247,299 44.3%
SVF II WW (DE) 0 370,277,759 0 370,277,759 370,277,759 45.9%
SVF II Holdings (DE) 0 370,277,759 0 370,277,759 370,277,759 45.9%
SVF II Aggregator (Jersey) 0 370,277,759 0 370,277,759 370,277,759 45.9%
SoftBank Vision Fund II 0 370,277,759 0 370,277,759 370,277,759 45.9%
SB Global Advisers Limited 0 370,277,759 0 370,277,759 370,277,759 45.9%
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

WeWork Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

96209A104

(CUSIP Number)

SB Global Advisers Limited

Attn: Spencer Collins

69 Grosvenor St

Mayfair, London W1K 3JP

44 0207 629 0431

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

March 1, 2022

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 96209A104    13D    Page 1 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SVF II WW Holdings (Cayman) Limited

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  Cayman Islands

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  349,247,299

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  349,247,299

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  349,247,299

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  44.3%

14    

  Type of Reporting Person

 

  CO


CUSIP No. 96209A104    13D    Page 2 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SVF II WW (DE) LLC

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  370,277,759

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  370,277,759

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  370,277,759

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  45.9%

14    

  Type of Reporting Person

 

  OO (Limited Liability Company)

 


CUSIP No. 96209A104    13D    Page 3 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SVF II Holdings (DE) LLC

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  370,277,759

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  370,277,759

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  370,277,759

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  45.9%

14    

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 96209A104    13D    Page 4 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SVF II Aggregator (Jersey) L.P.

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  Jersey

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  370,277,759

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  370,277,759

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  370,277,759

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  45.9%

14    

  Type of Reporting Person

 

  PN


CUSIP No. 96209A104    13D    Page 5 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SoftBank Vision Fund II-2 L.P.

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  Jersey

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  370,277,759

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  370,277,759

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  370,277,759

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  45.9%

14    

  Type of Reporting Person

 

  PN


CUSIP No. 96209A104    13D    Page 6 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SB Global Advisers Limited

  2    

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3    

  SEC Use Only

 

  4    

  Source of Funds (See Instructions)

 

  OO

  5    

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6    

  Citizenship or Place of Organization

 

  England and Wales

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  Sole Voting Power

 

  0

  8     

  Shared Voting Power

 

  370,277,759

  9     

  Sole Dispositive Power

 

  0

  10     

  Shared Dispositive Power

 

  370,277,759

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  370,277,759

12    

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13    

  Percent of Class Represented by Amount in Row (11)

 

  45.9%

14    

  Type of Reporting Person

 

  CO


CUSIP No. 96209A104    13D    Page 7 of 10 pages

 

EXPLANATORY NOTE

This Amendment No. 1 amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission (the SEC) on November 1, 2021 (as amended to date, the Schedule 13D) with respect to the shares of Class A common stock, par value $0.0001 per share (the Class A Common Stock), of WeWork Inc., a Delaware corporation (the Issuer). Capitalized terms used herein and not otherwise defined shall have the same meanings ascribed to them in the Schedule 13D.

 

Item 3.

Source and Amount of Funds or Other Consideration.

Item 3 of the Schedule 13D is hereby amended by inserting the following information at the end of Item 3:

Item 4 below describes the Share Acquisition and the Warrant Acquisition, and is incorporated herein by reference.

 

Item 4.

Purpose of Transaction.

Item 4 of the Schedule 13D is hereby amended by inserting the following information at the end of Item 4:

Share and Warrant Acquisitions

On March 1, 2022, SVF II WW (DE) LLC acquired 4,049,587 shares of Class A Common Stock from a third party. SVF II WW (DE) LLC issued limited liability company interests in exchange for these securities at an assumed value of $6.40 per share (the Share Acquisition).

On March 2, 2022, SVF II WW (DE) LLC acquired warrants to purchase 11,923,567 shares of Class A Common Stock (the Second Warrants) from a third party. The Second Warrants are currently exercisable, have an exercise price of $0.01 per share, and expire on December 6, 2031. SVF II WW (DE) LLC purchased the Second Warrants for $6.25 per share, for an aggregate purchase price of $74,522,294 (the Warrant Acquisition). SVF II WW (DE) LLC used cash on hand for the Warrant Acquisition.


CUSIP No. 96209A104    13D    Page 8 of 10 pages

 

Item 5.

Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is amended and restated in its entirety as follows:

(a) (b)

The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Class A Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 760,213,106 shares of Class A Common Stock outstanding as of February 2, 2022, based on the Issuers Prospectus Supplement No. 1 on Form 424B3 filed with the SEC on February 2, 2022:

 

Reporting Person

   Amount
beneficially
owned
     Percent
of class
    Sole
power to
vote or
to direct
the vote
     Shared
power to
vote or to
direct the

vote
     Sole power
to dispose
or to
direct the
disposition
     Shared
power to
dispose or to
direct the
disposition
 

SVF II WW Holdings (Cayman) Limited

     349,247,299        44.3     0        349,247,299        0        349,247,299  

SVF II WW (DE) LLC

     370,277,759        45.9     0        370,277,759        0        370,277,759  

SVF II Holdings (DE) LLC

     370,277,759        45.9     0        370,277,759        0        370,277,759  

SVF II Aggregator (Jersey) L.P.

     370,277,759        45.9     0        370,277,759        0        370,277,759  

SoftBank Vision Fund II-2 L.P.

     370,277,759        45.9     0        370,277,759        0        370,277,759  

SB Global Advisers Limited

     370,277,759        45.9     0        370,277,759        0        370,277,759  

SVF II WW Holdings (Cayman) Limited is the record holder of 320,298,461 shares of Class A Common Stock and may be deemed to beneficially own 28,948,838 shares of Class A Common Stock issuable upon exercise of the First Warrant. SVF II WW (DE) LLC is the record holder of 4,049,587 shares of Class A Common Stock, and may be deemed to beneficially own 5,057,306 shares of Class A Common Stock issuable upon exercise of the Penny Warrants and 11,923,567 shares of Class A Common Stock issuable upon exercise of the Second Warrants.

SoftBank Vision Fund II-2 L.P. is the sole limited partner of SVF II Aggregator (Jersey) L.P., which is the sole member of SVF II Holdings (DE) LLC, which is the sole member of SVF II WW (DE) LLC. SVF II WW Holdings (Cayman) Limited is a wholly owned subsidiary of SVF II WW (DE) LLC. SB Global Advisers Limited has been appointed as manager and is exclusively responsible for making all final decisions related to the acquisition, structuring, financing and disposal of SoftBank Vision Fund II-2 L.P.s investments, including as held by SVF II WW (DE) LLC and SVF II WW Holdings (Cayman) Limited.

In addition, by virtue of the agreements made pursuant to the Stockholders Agreement, the Reporting Persons and the Stockholder Members may be deemed to constitute a group for purposes of Rule 13d-3 under the Exchange Act. The Reporting Persons expressly disclaim any beneficial ownership of shares of Common Stock beneficially owned by the group members and their affiliates and such shares are not the subject of this Schedule 13D.


CUSIP No. 96209A104    13D    Page 9 of 10 pages

 

(c) Except as set forth in Items 3 and 4 above, during the past 60 days none of the Reporting Persons or Related Persons has effected any transactions in the Class A Common Stock.

 

(d)

None.

 

(e)

Not applicable.


CUSIP No. 96209A104    13D    Page 10 of 10 pages

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 11, 2022

 

SVF II WW Holdings (Cayman) Limited
By:  

/s/ Karen Ellerbe

Name:   Karen Ellerbe
Title:   Director
SVF II WW (DE) LLC
By:  

/s/ Matthew Johnson

Name:   Matthew Johnson
Title:   Director
SVF II Holdings (DE) LLC
By:  

/s/ Matthew Johnson

Name:   Matthew Johnson
Title:   Director
SVF II Aggregator (Jersey) L.P.
By:  

/s/ Spencer Collins

Name:   Spencer Collins
Title:   General Counsel
SoftBank Vision Fund II-2 L.P.
By: SB Global Advisers Limited, its Manager
By:  

/s/ Spencer Collins

Name:   Spencer Collins
Title:   Director
SB Global Advisers Limited
By:  

/s/ Spencer Collins

Name:   Spencer Collins
Title:   Director