{"id":758538,"date":"2023-05-12T14:03:53","date_gmt":"2023-05-12T18:03:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/exela-technologies-announces-reverse-split\/"},"modified":"2023-05-12T14:03:53","modified_gmt":"2023-05-12T18:03:53","slug":"exela-technologies-announces-reverse-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/exela-technologies-announces-reverse-split\/","title":{"rendered":"Exela Technologies Announces Reverse Split"},"content":{"rendered":"
\n

IRVING, Texas, May 12, 2023 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (\u201cExela\u201d or the \u201cCompany\u201d) (NASDAQ: XELA, XELAP), a global business process automation (\u201cBPA\u201d) leader, announced that its Board of Directors has approved a 1-for-200 reverse stock split of the Company\u2019s common stock, which will be effective at 5:00 p.m. Eastern Time on Friday, May 12, 2023.<\/p>\n

The amendment to the Company\u2019s certificate of incorporation allowing for the reverse split was approved by the Company\u2019s stockholders at the Special Meeting held May 11, 2023. As a result of the reverse split, each two hundred shares of the Company\u2019s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. The Company\u2019s 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.<\/p>\n

\n About Exela <\/strong>
\n
Exela Technologies\u00a0is 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,\u00a0Exela\u00a0serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune\u00ae<\/sup> 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela\u2019s 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,\u00a0Exela\u00a0rapidly deploys integrated technology and operations as an end-to-end digital journey partner.<\/p>\n

Find out more at www.exelatech.com<\/a><\/p>\n

To automatically receive Exela financial news by e-mail, please visit the Exela Investor Relations website, http:\/\/investors.exelatech.com\/<\/a>, and subscribe to E-mail Alerts.<\/p>\n

\n Forward-Looking Statements: <\/strong>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 \u201cmay\u201d, \u201cshould\u201d, \u201cwould\u201d, \u201cplan\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cpredict\u201d, \u201cpotential\u201d, \u201cseem\u201d, \u201cseek\u201d, \u201ccontinue\u201d, \u201cfuture\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201coutlook\u201d 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 \u201cRisk Factors\u201d in our Annual Report and in subsequent filings with the U.S. Securities and Exchange Commission (\u201cSEC\u201d). In addition, forward-looking statements provide Exela\u2019s 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\u2019s assessments to change. These forward-looking statements should not be relied upon as representing Exela\u2019s assessments as of any date subsequent to the date of this press release.<\/p>\n

\n For more Exela news, commentary, and industry perspectives, visit:<\/strong>\n <\/p>\n

\n Website:<\/strong>
\n https:\/\/investors.exelatech.com\/<\/a>\n <\/p>\n

\n Twitter:<\/strong>
\n @ExelaTech<\/a>\n <\/p>\n

\n LinkedIn: <\/strong>
\n \/exela-technologies<\/a>\n <\/p>\n

\n Facebook: <\/strong>
\n @exelatechnologies<\/a>\n <\/p>\n

\n Instagram: <\/strong>
\n @exelatechnologies<\/a>\n <\/p>\n

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,\u00a0SEC\u00a0filings and public conference calls and webcasts.<\/p>\n

\n Investor and\/or Media Contacts:<\/strong>
\n
Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com<\/a><\/p>\n

Mary Beth Benjamin
E: IR@exelatech.com<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

IRVING, Texas, May 12, 2023 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (\u201cExela\u201d or the \u201cCompany\u201d) (NASDAQ: XELA, XELAP), a global business process automation (\u201cBPA\u201d) leader, announced that its Board of Directors has approved a 1-for-200 reverse stock split of the Company\u2019s common stock, which will be effective at 5:00 p.m. Eastern Time on Friday, May 12, 2023. The amendment to the Company\u2019s certificate of incorporation allowing for the reverse split was approved by the Company\u2019s stockholders at the Special Meeting held May 11, 2023. As a result of the reverse split, each two hundred shares of the Company\u2019s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. The Company\u2019s … <\/p>\n

Continue reading “Exela Technologies Announces Reverse Split”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-758538","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nExela Technologies Announces Reverse Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exela-technologies-announces-reverse-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exela Technologies Announces Reverse Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IRVING, Texas, May 12, 2023 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (\u201cExela\u201d or the \u201cCompany\u201d) (NASDAQ: XELA, XELAP), a global business process automation (\u201cBPA\u201d) leader, announced that its Board of Directors has approved a 1-for-200 reverse stock split of the Company\u2019s common stock, which will be effective at 5:00 p.m. Eastern Time on Friday, May 12, 2023. The amendment to the Company\u2019s certificate of incorporation allowing for the reverse split was approved by the Company\u2019s stockholders at the Special Meeting held May 11, 2023. As a result of the reverse split, each two hundred shares of the Company\u2019s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. 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