$Exela Technologies (XELA.US)$ shares are trading higher by 14% to $0.42, but off the session high of $0.49, after the company announced its European business will go public through a merger with $CF Acquisition Corp VIII (CFFE.US)$.
What Else?After closing, the combined company will be called XBP Europe Holdings, Inc. and is expected to be publicly listed on Nasdaq under the symbol XBP. Until the closing of the transaction, shares will trade on Nasdaq under the symbol CFFE.
Par Chadha, Executive Chairman of Exela, indirect parent company of XBP Europe, said, "We are pleased to announce the merger agreement with CFFE following the Letter of Intent announced in late August. We continue to execute our strategy in some very difficult market conditions and look forward to communicating additional milestones."
Exela Technologies has a 52-week high of $47.60 and a 52-week low of $0.37.