WeWork Secures Final Court Approval For Transformational Restructuring

T-Reuters2024-05-30

WeWork Inc :Wework Secures Final Court Approval For Transformational Restructuring.Wework Inc - Expects To Emerge Debt-Free In Mid-June 2024.Wework Inc - Through Approved Plan, Wework Will: Eliminate More Than $4 Billion Of Prepetition Debt, Emerging Debt-Free.Wework Inc - Through Approved Plan, Wework Will Operate As A Private Company, Owned By Its Prepetition Secured Lenders.Wework Inc - Through Approved Plan Will Secure $400 Million Of New Equity Capital.Wework Inc - Through Approved Plan Co Will Reduce Total Future Rent Expenses By About $12 Billion Or Over 50%.

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