WeWork Inc (NYSE: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.
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According to data from Benzinga Pro, WeWork has a 52-week high of $8.08 and a 52-week low of $0.82.
