Benzinga | May 18, 2021 04:56PM EDT

WeWork Chair Marcelo Claure Says Demand Higher Than Pre-Pandemic Levels: Bloomberg

* Office-rental company WeWork Chair Marcelo Claure acknowledged demand had bounced back to higher than pre-pandemic levels, Bloomberg reports.

* Claure is also the COO of SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF), which is WeWork's biggest investor.

* WeWork sales were back to pre-pandemic levels, with a robust sales pipeline, a company spokeswoman said.

* WeWork estimated revenue of $3.2 billion in FY21 excluding China, at par with FY20 and FY19.

* WeWork's flexible terms will help tap the companies with flexible schedules and those reluctant to sign long-term leases.

* WeWork is seeking an initial public offering with a new CEO, Sandeep Mathrani, on the Nasdaq via a $9 billion special-purpose acquisition company (SPAC) merger with BowX Acquisition Corp (NASDAQ: BOWX).

* WeWork failed to conduct an IPO two years back after investors lost confidence in its then CEO, Adam Neumann, and its huge $47 billion valuations.

* Price action: BOWX shares closed 4.96% higher at $13.12 on Tuesday.