Exela Technologies, Inc.
IRVING, Texas, July 25, 2022 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA), a global leader in remote business process automation (BPA), announced that its The Board of Directors has authorized a 1:20 reverse stock split of the Company’s common stock effective Monday, July 25, 2022 at 5:00 p.m. Eastern Time. Exela’s board of directors approved the split, finding the 1-for-20 ratio to be appropriate to achieve Exela’s goals of improving the marketability and liquidity of its common stock, meeting Nasdaq listing requirements, and benefiting the company’s management team allow you to focus on your business.
As a result of the reverse split, every twenty shares of the Company’s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding common share. The Company’s shares will trade on the Nasdaq Capital Market on a split-adjusted basis as of market open on July 26, 2022. Immediately upon the effective date of the reverse split, approximately 64.8 million common shares will be issued and outstanding.
About Exela Technologies
Exela Technologies is a leading business process automation (BPA) company that leverages a global footprint and proprietary technology to deliver digital transformation solutions that improve quality, productivity and the end-user experience. With decades of experience running business-critical processes, Exela serves a growing list of more than 4,000 customers in 50 countries, including over 60% of the Fortune® 100. Exela’s software leverages foundational technologies that include information management, workflow automation, and integrated communications, and services span across industries , departmental solution packages for 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-ready platforms built on a configurable stack of automation modules and approximately 17,000 employees operating in 23 countries, Exela rapidly delivers integrated technology and operations as an end-to-end digital travel partner.
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Forward-Looking Statements
Certain statements in this press release are not historical facts and are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally preceded by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “aim”, “continue”, “future”, “will”, “expect”. “, “looks” or other similar words, phrases or expressions. These forward-looking statements include statements about 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 ch, but not limited to those discussed under the heading “Risk Factors” in Exela’s annual report and other securities documents. In addition, forward-looking statements represent Exela’s expectations, plans or forecasts of future events and beliefs as of the date of this release. Exela anticipates that subsequent events and developments will cause Exela’s assessments to change. These forward-looking statements should not be construed as representing Exela’s beliefs at any time after the date of this press release.
Investor and/or media contacts:
Vincent Kondaveeti
E: [email protected]
Mary Beth Benjamin
E: [email protected]
