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Exela Technologies, Inc. (NASDAQ: XELA) is a global leader in business process automation (BPA), leveraging a vast global footprint and proprietary technology to provide digital transformation solutions. Exela's primary objective is to enhance quality, productivity, and end-user experience through its innovative services. The company has decades of experience in managing mission-critical processes and serves a diverse clientele of over 4,000 customers across 50 countries, including more than 60% of the Fortune 100.
Exela operates through multiple segments: Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS), and Legal and Loss Prevention Services (LLPS). The ITPS segment generates the majority of the company's revenue, reflecting Exela’s strength in handling complex information and transaction processes.
Utilizing foundational technologies such as information management, workflow automation, and integrated communications, Exela offers a wide range of software and services. These include multi-industry departmental solution suites that address finance and accounting, human capital management, and legal management, along with industry-specific solutions for banking, healthcare, insurance, and public sectors.
Exela’s cloud-enabled platforms are built on a configurable stack of automation modules, enabling rapid deployment of integrated technology and operations as part of an end-to-end digital journey. The company employs approximately 17,500 individuals operating in 23 countries, ensuring a broad reach and efficient service delivery.
Recent achievements include launching a new Global Business Unit, Reaktr.ai, which focuses on cyber, large data, and generative AI. The goal is to address the rapidly changing industry demands and enhance operational efficiency and innovation for enterprise customers. Led by industry veteran Vineet Chaku, Reaktr.ai is expected to be a significant growth driver for Exela.
Financially, Exela has been working on stabilizing revenues and improving its balance sheet. The company has focused on cost management, leveraging automation, and making strategic investments in cyber security, data modernization, and cloud services. These efforts are aimed at positioning Exela for future growth and improving its overall financial health.
For the latest updates, news, and industry perspectives, visit Exela's investor relations website and follow them on social media:
For investor and media inquiries, contact Vincent Kondaveeti at vincent.kondaveeti@exelatech.com or Mary Beth Benjamin at IR@exelatech.com.
Exela Technologies (Nasdaq: XELA) has extended its partnership with the New York City Department of Finance and the New York State Industries for the Disabled (NYSID) to provide tax return services. This ongoing collaboration, lasting over a decade, highlights Exela's commitment to innovative solutions for government agencies. With over 800 vehicles, the company supports various public sector agencies, serving around 200 million insured individuals in the U.S. Exela aims to enhance public service through technology and its extensive experience in business process automation.
Exela Technologies, Inc. (NASDAQ: XELA) has successfully reduced its long-term debt by approximately $454 million following a senior notes exchange offer. This initiative achieved a 97.6% tender rate, allowing the company to cancel significant credit obligations and remove certain covenants. The result is an estimated $42 million reduction in cash interest expense and loan amortization, surpassing the original target of $37.5 million. Exela aims to exceed a $50 million improvement in annual free cash flow, reinforcing its strategy to unlock shareholder value.
Exela Technologies, Inc. (NASDAQ: XELA) will hold its Annual Meeting of Stockholders online on December 16, 2021, at 10:00 a.m. (ET). Stockholders are urged to vote their shares by proxy before the meeting. A proxy card was sent to all registered stockholders as of October 20, 2021. Voting can be done via the provided online link or through emails received from Proxyvote.com. Brokers cannot vote shares without specific instructions from stockholders. Important information regarding the meeting is included in the proxy statement filed with the SEC.
Exela Technologies (NASDAQ: XELA) hosted a webinar on December 8, 2021, where Josh Siegler from Cantor Fitzgerald and Exela's Global Head of Strategy, Matt Brown, discussed the company’s core business and revenue generation exceeding $1 billion annually. The session, titled “Behind the Curtain: Deep Dive into Exela’s Business,” focused on key aspects such as business process automation, growth outlook, and Exela's strategies for securing new business. The fireside chat is available for 30 days via Zoom.
Exela Technologies announced a $35 million investment in common stock led by B. Riley Securities. In addition, the management and board will invest over $1 million in the company's stock. This investment is expected to reduce reliance on at-the-market offerings and support growth initiatives, including a $40 million increase in capacity at a special purpose vehicle. Executive Chairman Chadha expressed optimism about unlocking shareholder value, while B. Riley's Chairman emphasized confidence in Exela’s technology platform.
Exela Technologies announced the closing of its exchange offer for senior secured notes on December 9, 2021. The offer, which launched on October 27, aimed to exchange up to $225 million in cash and new 11.500% notes due 2026 for its outstanding 10.000% notes due 2023. Approximately 97.6% of the old notes were validly tendered, resulting in $662.66 million in new notes issued and $225 million in cash distributed. The exchange offer conditions were satisfied, allowing all validly tendered notes to be accepted.
Exela Technologies has launched its proprietary platform, Exela Remote Notarization (Exela RN), which connects signatories with credentialed notaries for online notarization. This web portal offers notaries tools for scheduling, payments, and session tracking within a secure environment. Exela RN integrates with other Exela solutions like DrySign and the Digital Mailroom, enhancing customer onboarding for digital services. Over half of U.S. states support online notarization, making this a timely solution for individuals and businesses seeking convenient notarization options.
Exela Technologies, Inc. (NASDAQ: XELA) has announced the results of its Exchange Offer, which expired on December 3, 2021. Approximately 97.6% of the outstanding 10.000% First-Priority Senior Secured Notes due 2023 were tendered for exchange. Exela will issue $662.66 million in new 11.500% First-Priority Senior Secured Notes due 2026 and $225 million in cash to participating holders. Following the exchange, only 2.4% of the Old Notes will remain outstanding. The settlement is expected around December 8, 2021.
Exela Technologies (NASDAQ: XELA) announces a webinar hosted by Cantor Fitzgerald's Josh Siegler featuring Exela's Matt Brown on December 8, 2021, at 1 PM ET. Titled “Behind the Curtain: Deep Dive into Exela’s Business,” the session will cover Exela’s core business operations, how it generates over $1B in annual revenue, its growth outlook, and factors affecting its ability to win new business. A replay will be available on Exela's investor relations website post-event.
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