WeWork Inc WE shares are trading higher by 9.07% to $0.95 during Thursday's session following a report suggesting the company is near a deal for a capital injection and debt conversion.
WeWork is nearing a financial restructuring where SoftBank will convert about $1 billion of debt into equity, Bloomberg reported Thursday.
Bloomberg also says that WeWork is also close to securing funding and capital commitments of more than $1 billion, which represents most of the company's debt.
See Also: Why Esperion Therapeutics Stock Is Tanking Thursday
According to data from Benzinga Pro, WeWork has a 52-week high of $8.08 and a 52-week low of $0.82.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
