Adam Neumann, CEO of WeWork.
Eduardo Munoz | Reuters
A person familiar with the matter told CNBC’s Deidre Bosa that WeWork’s co-founder Adam Neumann and SoftBank are reaching a settlement agreement that would give the former CEO the right to pay $480 million The price paid him about 25% of the shares. The person familiar with the matter said that was half of the shares SoftBank had originally planned to buy.
If the transaction is finalized, SoftBank will purchase approximately $1
Sources said that SoftBank got in touch with Neumann when it was reported last month that WeWork was negotiating with SPAC, a subsidiary of Bow Capital Management.
The Wall Street Journal first reported on Monday the conversation between SoftBank and Neumann.