Exela Technologies Inc - XELA STOCK NEWS

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.

Exela Technologies, Inc. (NASDAQ: XELA) has extended the early tender and expiration time for its exchange offer concerning its outstanding 10.000% First-Priority Senior Secured Notes due 2023 until December 3, 2021. Approximately $893.5 million, or 95.5%, of the notes were tendered by the original deadline. The exchange offer includes a cash payment of $900 per $1,000 principal amount of the Old Notes, with a maximum cash amount of $225 million. The company has received consents for amendments to eliminate restrictive covenants and events of default in the Old Notes Indenture.

Exela Technologies has extended its exchange offer for Old Notes to December 1, 2021. Approximately $430.7 million, or 46.0%, of the Old Notes were tendered by the original deadline. With additional commitments from Supporting Holders, total tenders are expected to exceed $781.3 million, or 83.5%. Holders can receive $900 in cash per $1,000 of Old Notes, with acceptance on a pro-rata basis due to oversubscription. The new offering includes enhanced protections for investors and aims to amend existing restrictive covenants. The transaction is set to conclude shortly after the new deadline.

Exela Technologies (NASDAQ: XELA) has been selected as a potential supplier by the UK's National Health Service London Procurement Partnership. This selection allows Exela to provide services, including bulk scanning, contact center support, and digital mailroom solutions, as part of a comprehensive four-year contract worth approximately £5 billion (~$7 billion). The contract aims to enhance healthcare efficiency and patient data access. Exela's President expressed pride in contributing to improved healthcare systems.

Exela Technologies (NASDAQ: XELA) has been recognized as a 'Leader' in Everest Group's Intelligent Automation in Healthcare – Solutions PEAK Matrix® Assessment 2022. This assessment evaluated 18 operations service providers and highlighted Exela's ability to customize healthcare automation solutions effectively. Exela's intelligent automation approach addresses operational efficiency and cost reduction in healthcare, where repetitive tasks account for over $1 trillion annually. The company leverages in-house automation technologies, enhancing its competitive positioning within the healthcare sector.

Exela Technologies announced the immediate termination of an offer to purchase and exchange outstanding term loans, while the ongoing Exchange Offer for existing secured notes due 2023 remains active. As of November 18, 2021, about $318.9 million (34.1%) of the Old Notes were tendered. Investors will receive $900 in cash per $1,000 principal amount of Old Notes, subject to a maximum of $225 million. The deadline for validly withdrawing tenders has passed, and the Exchange Offer will settle after November 24, 2021.

Exela Technologies (NASDAQ: XELA) announced the establishment of GP 2XCV, LLC to utilize up to $105 million for debt repurchase, with B. Riley providing $75 million in financing and Exela contributing $30 million. As of November 17, 2021, Exela reported a total liquidity of approximately $348 million, including funds from this facility. The company intends to use its ATM facility opportunistically to support strategic goals. An 8-K has been filed with the SEC detailing the transaction.