Exela offers to exchange shares for $100 million 6% notes due 2029

By Rebecca Melvin

Concord, N.H., Jan. 26 – Exela Technologies Inc. commenced an offer to its common stockholders to exchange up to 100 million shares of stock for up to $100 million aggregate principal amount of 6% senior notes due 2029, according to a company release Wednesday.

Twenty-five shares are exchangeable for one note having a principal amount equal to $25.

The offer will expire at 12 a.m. ET on Feb. 24.

The new notes will be redeemable, in whole or in part, at any time on or after March 31, 2024. They will mature on March 31, 2029.

On Jan. 25, the last reported sale price of Exela’s common stock on the Nasdaq Capital Market was $0.55 per share, and there were 348,743,927 shares outstanding.

The new notes are expected to be listed on either the NYSE American Exchange or Nasdaq under the symbol “XelaA.”

Continental Stock Transfer & Trust Co. is the exchange agent.

D.F. King & Co., Inc is the information and tender agent for the offer (888 644-6071, 212 269-5550, exela@dfking.com, http://www.dfking.com/exela).

Exela in an Irving, Tex.-based business process automation company.

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