WeWork appears to be planning a new transaction, most likely a financing, at $50.19 a share, a securities filing by Fidelity suggests. The filing implied that as a result of the transaction, Fidelity had marked up WeWork shares from $32.89 set at the last fundraising price, an increase of 53%.
That confirms a recent media report about Fidelity’s recent WeWork markup, which put a new valuation on WeWork of $15 billion.
Fidelity’s Contrafund and Series Opportunistic Insights Fund both disclosed last week that they used a new $50.19 per share “proposed transaction price” to value one of their private portfolio companies on Dec. 31, although they did not name the company. But the funds also disclosed in the same filings that they marked up WeWork shares to $50.19 per share on Dec. 31.