The Wall Street Journal (WSJ) is reporting that Katerra, a modular prefabrication and timber innovations company was saved from bankruptcy on December 30th, 2020, by Japanese investment giant Softbank with an infusion of $ 200 million in cash. In addition, Softbank is taking another 5% stake in Katerra making them the majority stockholder in the company. The WSJ is reporting that prior to this latest infusion of cash, Softbank had already invested over $ 2 billion in Katerra. Katerra’s President Paal Kibsgaard said in a press release, “The decision to recapitalize follows a thorough review of options available to us to enhance our financial strength and ensure Katerra’s ability to continue to pursue our goal of transforming the construction industry.”
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SoftBank Providing $200M To Keep Construction Company Katerra Afloat