WeWork Inc (NYSE:WE) shares are trading higher by 4.35% to $1.19 during Tuesday’s after-hours session following a report suggesting the company is in talks to restructure its outstanding debt and raise additional cash.
The New York Times on Tuesday reported WeWork is in talks with investors to raise more cash as well as move forward in restructuring the company’s debt which stands in excess of $3 billion.
The report states that for the once-beloved startup: “An infusion of cash would most likely give WeWork the hundreds of millions of dollars it needed to keep operating for at least a few years, according to two people with knowledge of the negotiations.”
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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 $1.02.
