WeWork is in talks to raise hundreds of millions in capital to support the business, according to Bloomberg.

The long-struggling workspace rental company is reportedly in talks with Yardi Systems, a real estate software maker about an investment.

WeWork shares gained 5% in extended trading.

WeWork and Yardi have been working together on projects for at least the last year.

WEWORK CUTTING HUNDREDS OF GLOBAL JOBS

The talks reportedly center around allowing WeWork to restructure its debt and would get a financial cushion of several years, according to a person familiar with the negotiations. 

SoftBank Group, the largest outside investor, doesn’t plan to contribute to the financing but is open to revising terms on WeWork’s loans.

FOX Business has reached out to WeWork for comment.

WEWORK PLANS TO SHUTTER 40 LOCATIONS IN US

In January, WeWork announced it was streamlining operations resulting it cutting 300 positions.

 A near collapse in 2019 resulted in the ouster of its star founder, Adam Neumann, and a multi-billion dollar bailout from SoftBank. 

WEWORK’S ONCE ROBUST CASH RESERVES HAVE DWINDLED, RAISING CHANCES OF DEFAULT

WeWork leases buildings and divides them into office spaces to sublet to members, which include small businesses, start-ups and freelancers who want to avoid paying for permanent office space.

WeWork’s stock is down over 76% in the past year.