WeWork will be going public after the flexible office space company has agreed to merge with special purpose acquisition company BowX Acquisition Corp. in a deal valuing WeWork at $9 billion, including debt, according to a Friday report in The Wall Street Journal . BowX shares rallied 4.8% in premarket trading. WeWork would raise $1.3 billion in the deal, including $800 million in private investment in public equity (PIPE) from Insight Partners, funds managed by Starwood Capital Group, Fidelity Management and others, the WSJ report said. In 2019, an investment from Japan-based technology investor Softbank Group Corp. /zigman2/quotes/207137761/delayed SFTBY +2.02% /zigman2/quotes/207303954/delayed JP:9984 +3.50% had valued WeWork at $47 billion, the report said. An earlier attempt at going pubic through a more traditional public offering had failed, as Adam Neueman resigned as chairman and chief executive and as WeWork closed locations and slashed its workforce as the COVID-19 pandemic sapped demand for office space. The WSJ had reported in January that WeWork was in talks with a SPAC associated with Bow Capital. BowX's stock, which went public in October 2020, has lost 5.1% year to date through Thursday, while the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -0.79% has shed 6.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.01% has gained 4.1%.