share_log

Buybacks Tracking

Topic 33 news 2658 Subscribers

Exela Technologies announces 100M share buyback

Benzinga Real-time News ·  Apr 18, 2022 07:40

  • $Exela Technologies(XELA.US)$ 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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment