{
  "docId": "019de515-dc04-77fd-a20c-a6a578cabe29",
  "docSlug": "0ce73e902175c5d9cb1b8774a0735985",
  "documentTitle": "WeWork | Investor Presentation Deck | 27 slides",
  "authorId": "wework",
  "authorName": "WeWork",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 20,
  "pageCount": 27,
  "prevPage": 19,
  "nextPage": 21,
  "slideType": "other",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 50,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de515-dc04-77fd-a20c-a6a578cabe29/20",
  "deckHref": "/decks/019de515-dc04-77fd-a20c-a6a578cabe29",
  "deckJsonHref": "/decks/019de515-dc04-77fd-a20c-a6a578cabe29.json",
  "deckAnchorHref": "/decks/019de515-dc04-77fd-a20c-a6a578cabe29#slide-20",
  "components": [
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      "kind": "image",
      "text": "wework",
      "attrs": {},
      "subkind": "logo",
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      "kind": "paragraph",
      "text": "As Adjusted for Debt Restructure Transaction, as of 3/31/23 (US$, millions)",
      "attrs": {},
      "subkind": "paragraph",
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      "kind": "source-note",
      "text": "1. On February 15, 2023, as part of the Sixth Amendment to the Credit Agreement, the Senior LC Tranche commitments were increased from $930 million to $960 million.\n2. In February 2023, the Junior LC Tranche was amended to extend the maturity date from November 2023 to March 2025, increase the tranche from $350 million to $470 million and reset the interest rate from SOFR + 650 basis points to SOFR + 990 basis points.\n3. Senior Secured Notes outstanding presented as of March 31, 2023. In April 2023, the Company issued $50 million of Senior Secured Notes and all of the outstanding principal amount of Secured Notes was repaid at closing of the Debt Restructure Transaction.\n4. The 15.000% interest rate amount is payable 7.00% in cash and 8.00% in kind.\n5. The Delayed Draw Notes may be issued from time to time at the Company's option, subject to certain terms and conditions. If issued, the Delayed Draw Notes will have the same terms as the 1L Backstopped Notes.\n6. The 11.000% interest rate amount is payable 5.00% in cash and 6.00% in kind.\n7. The 12.000% interest rate amount is payable solely in kind.\n8. Represents outstanding letters of credit/indebtedness incurred by a joint-venture entity equally owned by the Company and an affiliate of SoftBank Group Corp.",
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    {
      "bbox": {
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      "kind": "table",
      "text": "Cash & cash equivalents\nSenior LC Tranche ($960M) (1)\nJunior LC Tranche (2)\nSenior Secured Notes ($500M) (3)\n1L Backstopped Notes (4)\n1L Delayed Draw Notes ($475M) (4,5)\n2L Exchange Notes (6)\n2L Convertible Exchange Notes (6)\n3L Exchange Notes (7)\n3L Convertible Exchange Notes (7)\nOther Debt (8)\nTotal secured debt\nSenior Unsecured Notes\nSenior Unsecured Notes (Series II)\nSenior Unsecured Notes (Series I)\nTotal unsecured debt\nTotal outstanding debt\nNet outstanding debt",
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      "subkind": "data",
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      "kind": "title",
      "text": "Debt capitalization table",
      "attrs": {},
      "subkind": "headline",
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  "arcBeats": [
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      "from": 20,
      "beatId": "87df9f6d-cc8e-48ee-a616-26e42f10eeea",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Financials",
      "beatSlug": "sequoia-pitch-financials",
      "evidence": "The deck presents WeWork's financial performance, including debt and equity capitalization tables, and quarterly financial results.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
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  ],
  "loops": [
    {
      "to": 20,
      "from": 18,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c8d18ccc-330d-4dc4-8785-73cf8a390391",
      "evidence": "The deck presents WeWork's market sizing and revenue buildup, emphasizing the potential for growth.",
      "position": 1,
      "objective": "To highlight the risks of not investing in WeWork",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
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