WeWork Inc. (NYSE:WE) signed a definitive agreement to acquire Common Desk, LLC on January 25, 2022. The acquisition is subject to closing conditions and is expected to close in March, at which point Common Desk will operate under the name Common Desk, a WeWork Company.

WeWork Inc. (NYSE:WE) completed the acquisition of Common Desk, LLC for $22.9 million on March 2022. WeWork transferred to the owners of Common Desk $10 million in cash and $3 million fair value of 489,071 shares of its Class A common stock of the Company. The remaining consideration included a holdback of $3 million payable in cash and contingent consideration payable in 760,969 shares of Class A common stock with a fair value of $5 million at closing. The cash and cash equivalents of Common Desk amounted to $1 million.