Office rental space firm's Adam Neumann would have to approve any changes to his voting power.
SmileDirectClub's IPO fell flat, though the company still raised $1.3 billion.
Shares of teeth-straightening provider SmileDirectClub are priced at $23 a share. The stock will begin trading Thursday.
There has been a lot of sideways action in the company's shares since it went public last spring and that pattern could continue in the weeks ahead.
Looming recession prospects are calling into question the huge pile of liabilities that WeWork has built up in advance of a planned IPO.