Neumann would be left with less than 10% of the shares and voting rights at the company, according to three people briefed on the plan. The SoftBank proposal being considered late Monday includes bringing forward the $1.5-billion equity injection the Japanese group had previously planned to make in April 2020. WeWork would abandon its dual-class share structure, which at one point gave Neumann 20 times the voting power of other shareholders, under the SoftBank proposal, according to the three people briefed. Those voting rights were cut to three times those of ordinary shares when Neumann was ousted as chief executive last month. The debt in the SoftBank proposal would be on better terms than the debt financing cobbled together by JPMorgan, one person briefed on the rival offers said.

Source: Los Angeles Times October 21, 2019 21:20 UTC