Embattled WeWork Parent Seen Postponing its IPO: Report

The We Co., parent of office space rental company WeWork is poised to delay its initial public offering, according to a published report late Monday. WeWork is expected to put off its offering until October at the earliest, The Wall Street Journal reported, citing unnamed sources. Financial advisers and investors were pushing for changes in the company’s corporate governance to limit co-founder Adam Nuemann’s voting power, and remove his wife from any role in selecting a successor CEO, the Financial Times reported last week. The company’s valuation reached $47 billion…

WeWork Considers Limits on Co-Founder to Salvage IPO: Report

Financial advisers and investors in WeWork have been pondering trying to limit co-founder Adam Neumann’s voting power in a bid to salvage the firm’s IPO, according to a published report. Neumann holds supervoting rights that are 20 times the rights of ordinary shareholders, FT.com reported Thursday. WeWork’s valuation reached $47 billion earlier this year when Softbank made a $2 billion investment in the real-estate company, which provides co-working space. In the run-up to the start of the company’s road show next week, however, advisers have been forced to reduce the…

Slack’s Reference Price Set at $26 by NYSE for Direct Listing Thursday

Slack Technologies Inc.’s  (WORK)   reference price for its direct public offering Thursday was set at $26 by the New York Stock Exchange late Wednesday. The workplace communications service company is executing a direct public offering, which bypasses the typical underwriting process. The reference price is not an offering price, according to an NYSE statement. Slack’s opening price will be determined by the stock’s designated market maker based on buy and sell orders collected by the exchange from broker dealers. Some observers are skeptical Slack will see the kind of…

Beyond Meat Slides After Andrew Left’s Citron Slams Stock in Tweet

Shares of hot recent IPO Beyond Meat (BYND)  ended lower Friday afternoon after famed short-seller Andrew Left’s Citron Research slammed the stock in a tweet, calling it “Beyond Stupid.” Citron argued that the company, which makes meat alternatives, deserves to drop some 30% from Thursday’s close to just $65 a share. The stock lost $3.57, or 3.8%, to end the day at $89.35. It traded as low as $85.71 (-7.8%) immediately after Citron’s tweet went live. In the tweet, Citron said Beyond Meat’s market cap now exceeds that of the entire industry, with a “superior…

Slack Technologies Moving Closer to IPO: Report

Slack Technologies is moving closer to an initial public offering by preparing a prospectus that could be released as early as this week, according to a published report. The company, which provides instant messaging services to businesses and groups, is one of a number of tech companies attempting to go public while stock markets remain in a receptive mood. The Wall Street Journal, citing unnamed sources, reported that Slack has been putting the finishing touches on a prospectus that it hopes to release by Friday. Hot IPOs this year have included…