WeWork Inc WE shares are trading higher by 2.29% to $1.00 Friday morning after the company announced an agreement to reduce its net debt and extend $1.6 billion in remaining debt maturities to August 2027.
What Else: WeWork says the transactions announced today will reduce WeWork's net debt by approximately $1.5 billion at closing, extend a significant maturity wall from 2025 to 2027 and result in new funding and new and rolled capital commitments of over $1.0 billion once completed.
See Also: What's Happening With Wells Fargo (WFC) Stock?
Following the completion of the transactions, WeWork says the company is expected to be fully capitalized for the business plan filed in conjunction with today's announcement.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
