Brief: WeWork Says Secures $450 Million Of New Money Financing To Fund Emergence From Chapter 11

Wework

29/04/2024 18:47

April 29 (Reuters) - WeWork Inc  WEWKQ.PK :
    * WEWORK TAKES SIGNIFICANT STEPS TOWARD EMERGENCE FROM
CHAPTER 11
    * WEWORK INC - RECEIVES CONDITIONAL APPROVAL OF DISCLOSURE
STATEMENT
    * WEWORK INC -SECURES $450M OF NEW MONEY FINANCING TO FUND
EMERGENCE AND PROVIDE POST-EMERGENCE CAPITAL
    * WEWORK INC - ADDITIONALLY THROUGH ITS PLAN, WEWORK EXPECTS
TO
ELIMINATE ALL OF ITS $4 BILLION OF OUTSTANDING, PREPETITION DEBT
OBLIGATIONS
    * WEWORK INC - REQUESTED FINAL APPROVAL OF THE DISCLOSURE
STATEMENT AND CONFIRMATION OF THE PLAN TO OCCUR AT A HEARING NOW
SCHEDULED FOR MAY 30, 2024
    * WEWORK INC - WEWORK WILL IMMEDIATELY BEGIN TO SOLICIT
VOTES ON
THE PLAN

Further company coverage:  WEWKQ.PK 

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