(Reuters) – WeWork Inc is in talks with investors to restructure its outstanding debt of more than $3 billion and raise more cash, the New York Times reported on Tuesday.
An infusion of cash would most likely give WeWork the hundreds of millions of dollars it needed to keep operating for at least a few years, the report added, citing people with knowledge of the negotiations.
Yardi, a real estate software provider in Santa Barbara, California, is among the investors considering new investment in the company, the people told the newspaper.
Japan’s SoftBank Group Corp, which is both WeWork’s largest shareholder and its largest debtor, is playing a key role in the negotiations but is not expected to put any additional money into the company, the report said.
WeWork did not immediately respond to a Reuters request for comment.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Maju Samuel)