Chapter 11 The Cost of Capital Discussions WeWork Is Dropping Its Plan for an IPO WeWork is taking another step toward shelving its troubled initial public offering. According to a statement the flexible office space provider plans to ask the Securities and Exchange Commission to withdraw its Form S-1 regulatory document, which companies must file before listing their S bc stock exchange. WeWork's parent company We Co. first filed its S-1with the SEC on Aug. 14."We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong." WeWork's co-CEOS Artie Minson and Sebastian Gunningham said in a statement, "We are as committed as ever to serving our members enterprise customers, landlord partners, employees and shareholders."Minson and Gunningham were appointed co-CEOS after WeWork's co-founder and then-CEO Adam Neumann resigned last week. The company faced skepticism from investors about its mounting losses, lofty valuation, and potentially lax corporate governance. This past summer has also been a difficult period for high-growth but money-losing companies more broadly. WeWork's bonds fell sharply on Monday, which pushed their yields up above 11%. The bonds were trading around 85 cents on the dollar. The request to withdraw its S-1 means that WeWork's IPO is off the table for the foreseeable future. The company's new management will try to cut costs and give investors more confidence in We Work's path to profitability, then may attempt going public again. "We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future," said Minson and Gunningham. WeWork has been backed by SoftBank Group (SFTBY) of Japan, Masayoshi Son's holding company. SoftBank, and its Vision Fund, have put nearly $11 billion into WeWork. A round of investment in January had valued the office-sharing company at $47 billion. But as WeWork tried to go public, reports emerged that the company valuation had fallen as low as $10 billion. Why is WeWork postponing its plan to access external equity financing