SoftBank convertible note helped cut WeWork losses

By Herbert Lash and Joshua Franklin NEW YORK (Reuters) - Investors may be stumped by some of the finances WeWork owner We Company unveiled this week in its filing to go public, in particular a $486 million gain on a convertible note that made losses at the coworking firm appear a lot smaller. The gain reduced the pace of expanding losses in the first six months of this year to a 25% increase from a year earlier rather than almost doubling it. We, which provides shared workspaces, published detailed financial information for the first time on Wednesday ahead of an initial public offering as early as September.

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