> This target is tied to a $6 billion credit line We Company secured from banks last month, that calls for an IPO to take place by the end of the year and raise at least $3 billion, one of the sources said.
> Were the New York-based company to fail to meet this target by the end of the year, it would need to secure alternative funding.
When you read this and that Softbank has committed to buy 1/3 of the shares sold at IPO it does sound like it's going to pop sooner than later (that may include the vision fund if WeWork crashes)
I would not be surprised if Softbank's commitment ultimately changes to "we'll buy however many shares we need to buy to ensure the IPO raises at least $3B and the debt covenant is preserved".
So basically it depends on the founder / CEO to raise money to keep the burn rate up to keep the evaluation up. Stops working when the narrative changes.
> Were the New York-based company to fail to meet this target by the end of the year, it would need to secure alternative funding.
Does this mean, its now a ticking time bomb?