The short-term office-rental pioneer has seen its stock fall to about a dollar since it went public in a SPAC merger. Now, SoftBank has led a complex restructuring and refinancing.

SoftBank Again Saves WeWork With Another Recapitalization

Over the past year, traders have looked for SPACs to sell amid a terrible slump in the sector. But the mood may be changing given the level of destruction across the sector.

3 SPACs to Sell Before They Go Bust in 2023

The agreement will reduce the unprofitable office space company's debt, giving it more financial breathing room.

WeWork Reaches a Debt Restructuring Deal With SoftBank

WeWork Inc (NYSE:WE) has reached a deal to convert about $1 billion worth of major investor SoftBank Group Corp's unsecured notes into equity as the coworking company moves to reorganize its finances.  The move had been expected, and shares of the company climbed 13% Thursday in anticipation.

WeWork reaches $1 billion debt-to-equity deal with SoftBank Group, as expected

Shares of WeWork Inc. WE, +2.29% jumped 3.3% to trade back above the $1 mark in morning trading Friday, after the flexible work space provider announced agreements a group of investors that includes most of its bondholders to reduce debt and bolster liquidity. The “ad hoc” group includes Softbank Corp.'s SOBKY, -0.35% 9434, +0.75% Vision Fund II, a third-party investor and a group representing more than 60% of its public bonds.

WeWork stock bounces back above the $1 mark after debt cancelling, liquidity boost agreements with investors

WeWork Inc (NYSE:WE) shareholders got some welcome relief after what has been a rough 2022 and start to 2023 for the company's stock price.  The much-maligned coworking space company is expected to reach a financial restructuring deal that would see a major investor, SoftBank Group Corp, convert about $1 billion of debt into equity, according to reports.

WeWork shares rise on expected $1 billion debt-to-equity deal

WeWork Inc. provides flexible workspace solutions to individuals and organizations worldwide. The company offers workstation, private office, and customized floor solutions; and various amenities and services, such as private phone booths, internet, high-speed business printers and copiers, mail and package handling, front desk services, off-peak building access, common areas, and daily enhanced cleaning solutions. It also offers various value-add services; business and technical service solutions, including professional employer organization and payroll services, remote workforce solutions, human resources benefits, dedicated bandwidth, and IT equipment co-location solutions. In addition, the company offers workspace management solutions, which enable landlords and operators to power flexible spaces and provide direct access to an established customer base. As of December 31, 2021, its real estate portfolio includes 756 locations. WeWork Inc. was founded in 2010 and is headquartered in New York, New York.