WeWork announced that it has accepted a rescue package from SoftBank Group Corp., its largest investor, that will give the Japanese conglomerate an 80% stake in the company. The deal with SoftBank, which includes $5 billion in new financing and an acceleration of a $1.5 billion existing commitment, grants a reprieve to WeWork parent We Co., which was on track to run out of money as soon as next month.

(Live Mint)