WeWork Inc (NYSE: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.
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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.
