WeWork scamper to raise $2.7 billion ‘lifeline’ pre-IPO

Workspace rental startup, WeWork Co. is now under pressure to raise a lifeline fund to ensure it is in good shape before its initial public offering, IPO.

Citing people with the knowledge of the matter, Bloomberg reported that company is looking to raise about $2.75 billion in debt.

There indications that WeWork is already talking to JPMorgan to lead the debt funding programme.

The workspace for rental company recently filed for an IPO with the US Securities and Exchange Commission, SEC, however, there are reports that the company could be running out of cash to finance it’s critical operations before the IPO is executed.