Exela Technologies announces 100M share buyback
Exela Technologies announces 100M share buyback
$Exela Technologies(XELA.US)$ shareholders can exchange blocks of 20 shares of common stock into a $25 liquidation preference, 6% cumulative dividend, voting, convertible preferred stock.
$25 liquidation preference represents a 257% premium to the closing share price of $0.35 on April 15, 2022 on a per share of common stock equivalent basis
Shares tendered will be retired, reducing share count by approximately 20.6%
Holders of Series B Preferred Stock will also be entitled to exchange their shares for an equivalent number of shares of the new class of preferred stock plus a cash payment equal to accrued but unpaid dividends
For record holders of stock the expiration time of the offer is 11:59 p.m. on May 16, 2022.
Shareholders who hold their stock through a broker or other nominee will likely have an earlier deadline by which they must instruct their broker or nominee to tender. Each broker and nominee is different and shareholders must follow the applicable requirements and deadlines of their broker or nominee.
$ 外國技術（日拉美國）$ 股東可以將 20 股普通股的塊交換為 25 美元的清算偏好，6％ 的累積股息，投票權，可轉換優先股。
25 美元的清算偏好以每股普通股等值基準計算，即 2022 年 4 月 15 日收市股價 0.35 美元的 257% 溢價
被投標的股份將退休，股份數減少約 20.6%
B 系列優先股持有人也有權將其股份換成相等數量的優先股股份，加上相等於應計但未付股息的現金支付
對於股票的記錄持有人，要約的到期時間為 2022 年 5 月 16 日晚上 11 時 59 分。
通過經紀人或其他代名人持有股票的股東可能會有較早的截止日期，通過該截止日期必須指示其經紀人或代名人進行投標。每個經紀人和代名人都不同，股東必須遵守其經紀人或被提名人的適用要求和截止日期。