View Inc. in pact with Cantor Fitzgerald and RXR to go private

View announced it reached an agreement with Cantor Fitzgerald, RXR Realt RXR” , and certain of the Company’s stakeholders on the terms of a financial restructuring that is designed to strengthen the firm’s balance sheet and better position View for the future. To ensure a timely process, View and certain of its subsidiaries will commence prepackaged Chapter 11 cases in the District of Delaware. During this time, View expects its operations to continue as normal. View also expects that trade claims will be unaffected, orders will continue to be fulfilled, and customers will continue to be supported. The Company expects to obtain court approval for the Proposed Transaction within 45 days of April 2, 2024. Shortly thereafter, View expects to emerge as a privately held company with a reorganized board of directors, whereby Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, and Scott Rechler, Chairman & CEO of RXR, will provide support and guidance to View on its operational structure and corporate strategy. “Today’s announcement marks the culmination of a thorough strategic review of our business operations to help ensure we have the proper capital structure going forward,” said Dr. Rao Mulpuri, CEO of View. “With the support of Cantor Fitzgerald and RXR, we intend to maximize our business potential with increased financial stability and be better positioned to increase our presence across the real estate ecosystem.”