Exela Technologies Issues Reminder of the Timing of the Pending Exchange Offer
May 12 2022 - 8:30AM
Exela Technologies, Inc. (“Exela” or the “Company”)
(NASDAQ: XELA) announced today that the previously announced
exchange offer is still open. The Company understands that some
investors may have been given contrary information by their broker.
The offer was amended to provide that each 20 share increment of
common stock may be exchanged for 1 share of Series B Preferred
Stock with a $25 per share liquidation preference, and that the
Company intends to issue a dividend of Tandem Voting Stock with
respect to the Series B Preferred Stock following the completion of
the offering.
Shares that were tendered prior to May 2, 2022, may need to be
re-tendered following the amendment. Accordingly, if you are a
shareholder who tendered shares prior to May 2, 2022 and did not
re-tender after May 2, 2022, you will need to tender again if you
want to participate in the offer. Holders of the Series B Preferred
Stock do not need to take any action. Holders of common
shares should contact their brokers for instructions to
participate in the offer.
The Company’s press release regarding the amended offer, can be
found
here: https://investors.exelatech.com/news-releases/news-release-details/exela-technologies-announces-amendment-pending-exchange-offer-0
Participating shareholders should instruct their broker to
tender their Common Stock well before the expiration time
of 11:59 p.m. EST on May 16, 2022, to give their
broker enough time to tender their Common Stock.For assistance in
tendering your shares, you may contact our Information Agent, D.F.
King & Co., Inc., Call Toll-Free: (888) 644-6071, Email:
exela@dfking.com.
Further information is available here: to.exelatech.com.
About Exela TechnologiesExela
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 17,000
employees operating in 23 countries, Exela rapidly
deploys integrated technology and operations as an end-to-end
digital journey partner.
Forward-Looking StatementsCertain 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 the Offer to Exchange
and Exela's Annual Report and other securities filings.
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.Investor and/or Media
Contacts:
Vincent KondaveetiE: vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE: IR@exelatech.com
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