Exela Technologies Announces Reverse Split
12 Mai 2023 - 8:00PM
Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA,
XELAP), a global business process automation (“BPA”) leader,
announced that its Board of Directors has approved a 1-for-200
reverse stock split of the Company’s common stock, which will be
effective at 5:00 p.m. Eastern Time on Friday, May 12, 2023.
The amendment to the Company’s certificate of
incorporation allowing for the reverse split was approved by the
Company’s stockholders at the Special Meeting held May 11, 2023. As
a result of the reverse split, each two hundred shares of the
Company’s issued and outstanding common stock will be automatically
combined and converted into one issued and outstanding share of
common stock. The Company’s shares will begin trading on a
split-adjusted basis on the Nasdaq Capital Market commencing upon
market open on May 15, 2023. Immediately after the reverse split
becomes effective, there will be approximately 6.4 million shares
of common stock issued and outstanding.
About Exela Exela
Technologies is a business process automation (BPA) leader,
leveraging a global footprint and proprietary technology to provide
digital transformation solutions enhancing quality, productivity,
and end-user experience. With decades of experience operating
mission-critical processes, Exela serves a growing roster
of more than 4,000 customers throughout 50 countries, including
over 60% of the Fortune® 100. Utilizing foundational technologies
spanning information management, workflow automation, and
integrated communications, Exela’s software and services include
multi-industry, departmental solution suites addressing finance and
accounting, human capital management, and legal management, as well
as industry-specific solutions for banking, healthcare, insurance,
and the public sector. Through cloud-enabled platforms, built on a
configurable stack of automation modules, and approximately 15,000
employees operating in 21 countries, Exela rapidly
deploys integrated technology and operations as an end-to-end
digital journey partner.
Find out more at www.exelatech.com
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Alerts.
Forward-Looking Statements:
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “may”, “should”, “would”, “plan”,
“intend”, “anticipate”, “believe”, “estimate”, “predict”,
“potential”, “seem”, “seek”, “continue”, “future”, “will”,
“expect”, “outlook” or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, estimated or anticipated future results
and benefits, future opportunities for Exela, and other statements
that are not historical facts. These statements are based on the
current expectations of Exela management and are not predictions of
actual performance. These statements are subject to a number of
risks and uncertainties, including without limitation those
discussed under the heading “Risk Factors” in our Annual Report and
in subsequent filings with the U.S. Securities and Exchange
Commission (“SEC”). In addition, forward-looking statements provide
Exela’s expectations, plans or forecasts of future events and views
as of the date of this communication. Exela anticipates that
subsequent events and developments will cause Exela’s assessments
to change. These forward-looking statements should not be relied
upon as representing Exela’s assessments as of any date subsequent
to the date of this press release.
For more Exela news, commentary, and industry
perspectives, visit:
Website: https://investors.exelatech.com/
Twitter: @ExelaTech
LinkedIn: /exela-technologies
Facebook: @exelatechnologies
Instagram: @exelatechnologies
The information posted on the Company's website
and/or via its social media accounts may be deemed material to
investors. Accordingly, investors, media and others interested in
the Company should monitor the Company's website and its social
media accounts in addition to the Company's press
releases, SEC filings and public conference calls and
webcasts.
Investor and/or Media
Contacts:Vincent KondaveetiE:
vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE: IR@exelatech.com
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