Exela Technologies, Inc. (XELA) gained in the current market after the company announced an increase in Exchange Offer Consideration for Common Stock to $1.25 of New Notes per Share. XELA values at $0.86 in the current market, gaining more than 6.82% compared to yesterday’s closed price. The stock closed at around $0.81 at the end of the previous trading session with a trading volume of approximately 51.62 million shares.
Exela Technologies, Inc. (XELA) increased in Exchange Offer
Exela Technologies, Inc. (XELA) is a multinational BPM company. SourceHOV LCC, Novitex Holdings, Inc., and Quinpario Acquisition Corp. merged to form it.
Exela Technologies, Inc. (XELA) announced in a press release today that it has revised its previously announced offer to swap up to 100,000,000 shares of its Common Stock for unsecured 6.00 percent senior notes due 2029. Since each share of Common Stock is now worth $1.25 instead of $1.00, the total value offered per share is now $1.25 as well.
The exchange of Common Stock for New Notes is now available in 20-share increments for $25 in New Notes for shareholders. On January 25, 2022, the stock closed at $0.55, representing a 127 percent premium. There will be a 30 percent reduction in the total number of shares when the tenders are accepted. Due to the increased price for the exchange, only 20-share lots of Common Stock may be offered and up to $125,000,000 in New Notes may be given.
Exela Technologies, Inc. (XELA) lost around 70% in the last 12 months
Price records contain a stock’s low and high price history over a 52-week period. In the last 52 weeks, Exela Technologies Inc. shares have fallen by 70 percent, yet it has risen by 130 percent from their lowest price point of $0.35. There was no significant change in the stock’s 52-week price range, which remained between $0.35 and $7.82.
Exela Technologies, Inc. (XELA) shares reached a trading volume of over 51.62 million yesterday, much greater than the shares’ usual daily volumes. If we look at Exela Technologies YTD’s metrics, we see that the company has performed in the has declined market 1.38%, with revenues showing an annual decrease of 59.72%. The market cap of Exela Technologies is $159.59 million right now.
Conclusion
Exela Technologies, Inc. (XELA) has lost significant value in the trailing twelve months. The current exchange offer shows that the company is keen on increasing the stock value. They also have to meet the NASDAQ’s compliance of keeping the stock value above $1 per share.
