- WeWork strikes a deal to cut about $1.5B of debt and secured over $1B of capital commitments.
- SoftBank Group will convert $1B of unsecured notes into equity.
- WeWork delayed filing its annual report.
- Transactions will result in a more sustainable capital structure for the company.
WeWork Clinches Major Restructuring in Quest For Profits
WeWork clinches major restructuring, cutting $1.5B of debt and securing over $1B of capital commitments, including SoftBank's $1B debt to equity conversion.