Read the article and answer if regulators in the US are taking a closer look at Spacs. Would the WeWork situation raise any flag? Is the WeWork decision an example of the situation regulators are worried about?

Ortenca Aliaj and Eric Platt in New York MARCH 26 2021 WeWork has agreed to merge with a blank-cheque company in a deal that values the office provider at $9bn, paving the way for the business to go public almost two years after its failed listing plunged the company into turmoil. The merger with BowX Acquisition, a special purpose acquisition company set up by Vivek Ranadive, founder of the California-based software group Tibco, will pump $1.3bn in cash into WeWork. The Financial Times reported this week that WeWork was pitching investors on its planned merger with BowX while reporting $3.2bn in losses last year as the pandemic hit its business. As part of the deal WeWork will receive $8oom from institutional investors such as Starwood Capital, Fidelity and BlackRock, as well as $483m in cash BowX raised in its initial public offering. Shares in BowX were up almost 5 per cent in pre-market trading. A listing for WeWork through a Spac, almost two years after its failed IPO, underscores how the boom in blank-cheque companies has changed investor appetite for businesses that have previously struggled to go public.Spacs raise money through a listing and then hunt for a business to acquire, promising companies a faster route to public markets. Companies that go public with a Spac can show projections that are not typically included in a traditional IPU prospectus because of the risk of liability. WeWork expects its revenue to increase by almost $4bn by 2024, according to its investor presentation. Executives at the company project adjusted earnings before interest, taxes, depreciation and amortisation margin a measure of WeWork's prot as a percentage of its revenue will swing from negative 55 per cent in 2020 to almost 30 per cent in 2024. WeWork is betting 011 higher occupancy to deliver these projections despite a 4? per cent drop in occupancy rate across its global portfolio in 2020 due to the pandemic. The company, which is pitching itself as a \"technology platform\" rather than a conventional bricks and mortar landlord, said it needed 7:0 per cent physical occupancy to break even. Sande ep Mathrani, who took over as chief executive of WeWork last year, said the company \"has spent the past year transforming the business and refocusing its core\". \"WeWork has emerged as the global leader in flexible space with a value proposition that is stronger than ever,\" he added. WeWork's much anticipated public offering in the summer of 2019, just months after it had received funding from SoftBanl-I at a $4vbn valuation, fell apart as investors focused 011 its lavish spending and mounting losses. Adam Neumann, the company's controversial cofounder, stepped down as chief executive amid the fallout