SoftBank had planned a $3 billion tender offer for WeWork shares, which were privately held, along with a $1.5 billion acceleration of equity it has already committed and $5 billion in syndicated debt. The financing package was meant to save WeWork from an impending cash crunch last year.
SoftBank still plans to extend $5 billion in debt to WeWork, the people said, who asked not to be named because the discussions are private.on SoftBank's attempt at revising terms of the bailout.
The SoftBank tender offer closes April 1. As part of the tender, SoftBank had also planned on doing a share swap for WeWork's, which were supposed to close April 1 and haven't yet -- a potential out for SoftBank, one of the people said.
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