Exela has also announced that it intends to declare a dividend of one share of a new series of voting preferred stock (the Tandem Preferred Stock) for each share of outstanding Series B Preferred Stock (the Tandem Stock Dividend), resulting in each share of Series B Preferred Stock having 20 votes per share (representing the number of votes of the Common Stock surrendered in exchange for one share of Series B Preferred Stock).

1100 LOS ANGELES CA 90067, 3505 W SAM HOUSTON PKWY NORTH SUITE 400 HOUSTON TX 77043, 120 FIFTH AVENUE, THIRD FLOOR NEW YORK NY 10011, 120 FIFTH AVENUE, 3RD FLOOR NEW YORK NY 10011, 4055 VALLEY VIEW LANE SUITE 1000 DALLAS TX 75244, C/O EXELA TECHNOLOGIES, INC. 2701 E. GRAUWLER RD. <> stream The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. <> Unless a preferred stock is convertible, the upside in a preferred stock investment is more limited than in a common stock investment. [[ data.eventTime | date: 'EEE, MMM dd, yyyy h:mm a' : 'America/Chicago' ]] CDT. Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. It is generally considered a hybrid instrument.

)1( Co)-1(nversely, securitie)-1(s )] TJ ET Q Q q 1 0 0 1 0.30000001 0.3500061 cm q 258.45001221 0 0 -144 0 144 cm /X1 Do Q Q 1 0 0 -1 0 792 cm Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Dividends paid to Preferred Stocks need to be subtracted from net income in the calculation of earnings per share. Sorry. <>>>

Investors have until May 16 of this year to exchange 20-share blocks of common stock into a $25 liquidation preference of its 6% Series B1 cumulative convertible perpetual preferred stock. Nasdaq If a company doubles its earnings, it is usually under no more obligation to double the dividends paid to preferred shareholders than it is to double the interest paid to its bankers and bondholders.So preferred stock is very different from common stock. Copyright "qVb`cq(I/1XCT3 Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, Exela announces intention to provide listed Series B Preferred Stock (Nasdaq: XELAP) voting rights by distributing new Tandem Preferred Stock, Shareholders can now exchange blocks of 20 shares of Common Stock into one share of the existing, tradable Series B Preferred Stock (Nasdaq: XELAP) with a $25 liquidation preference and a 6% annual dividend, Liquidation preference represents a 257% premium to the closing share price of $0.35 on April 15, 2022, the day prior to the commencement of the original Offer, Dividend represents a 21.4% yield based on the April 15, 2022 closing price, Participating shareholders should instruct their broker to tender their Common Stock well before the expiration time of 11:59 p.m. EST on May 16, 2022, to give their broker enough time to tender their Common Stock, Cumulative dividends from March 11, 2022, at the rate of 6% per annum on the $25 per share liquidation preference, representing a 21.4% yield based on the April 15, 2022 closing price of the Common Stock, and.

endobj Exela is also allowing investors to convert its ownership into Series B1 preferred stock in addition to cash payments equivalent to unpaid dividends of its Series B preferred stock. All rights reserved.

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Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. If you have an ad-blocker enabled you may be blocked from proceeding. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in the Offer to Exchange and Exela's Annual Report and other securities filings.

In the amended offer (the "Offer"), stockholders can now exchange Common Stock in 20 share increments for one share of the existing, publicly-traded Series B Preferred Stock (Nasdaq: XELAP) with a $25 liquidation preference, which following the Tandem Stock Dividend described below, will have 20 votes per share. Indeed, XELA stock is up more than 10% heading into the afternoon. 2022 was $0 Mil. U&!ojob^/>4.y^@>GIQ6&B"80h)BPwy5a~i!9mV^mLB\&p2~tbX H-4Eh@cIP>&GL|7XyB#>TF-]G1nWGoW%F!%bav C[hqre *YeN0J1%+0[ ZfsEdl=6\`u&sB ! endobj Gurus may be added or dropped from the GuruFocus site at any time.

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Exela has also announced that it intends to declare a dividend of one share of a new series of voting preferred stock (the "Tandem Preferred Stock") for each share of outstanding Series B Preferred Stock (the "Tandem Stock Dividend"), resulting in each share of Series B Preferred Stock having 20 votes per share (representing the number of votes of the Common Stock surrendered in exchange for one share of Series B Preferred Stock). Exela Technologies Amends $115 Million B. Riley Debt Facility to include a Revolving Credit Facility, Exela Technologies Announces CEO Transition Effective April 2022, EXELA TECHNOLOGIES (XELA) INVESTIGATION ALERT - Andrews & Springer LLC Is Investigating Exela Technologies, Inc. For Potential Securities Violations and Breaches of Fiduciary Duty, Exela Technologies Closes Revolving Loan Exchange and Prepayment; Removes Last Remaining Senior Debt Maturity in 2022. Shares tendered will be retired, reducing share count by approximately 20.6%. FREE Breaking News Alerts from StreetInsider.com! IRVING TX 75038, C/O EXELA TECHNOLOGIES, INC. 2701 E. GRAUWYLER RD. Futures and Forex: 10 or 15 minute delay, CT. Market Data powered by Barchart Solutions. But, remember, the preferred stock of a company with bonds is junior to those bonds. All rights reserved.

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2 Charts Show Why Growth Stocks Are Ready to Break Out Big, From Shiba Inu to Binance, Why Burn Coins Are All The Rage, Dear SOFI Stock Fans, Mark Your Calendars for Aug. 2, Cannabis Stocks TLRY, SNDL, CGC, ACB, GRWG Down as Senators Unveil New Bill, 5 Investors Betting Big on Exela Technologies (XELA) Stock. IRVING, Texas, May 02, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or the "Company") (NASDAQ: XELA) announced today that it has amended the previously announced exchange offer for shares of its Common Stock and Series B Preferred Stock.

Read How Much Did Warren Buffetts Berkshire Hathaway (BRK.B) Make on Its Goldman Sachs (GS) Preferred Stock?

1 0 0 -1 0 792 cm q 1 0 0 1 40.29999924 27.35000038 cm q 1 0 0 1 0 13.79899979 cm Q q 1 0 0 1 0 27.59799957 cm Q q 1 0 0 1 0 55.19599915 cm Q q 1 0 0 1 0 68.99500275 cm Q q 1 0 0 1 0 82.79399872 cm Q q 1 0 0 1 0 96.59300232 cm Q q 1 0 0 1 0 110.39199829 cm BT /FAAAAH 12 Tf 1 0 0 -1 477.65701294 11.25599957 Tm 2 Tr 0 g 0.34285715 w 0 G [(#501)-1(43)] TJ ET Q q 1 0 0 1 0 124.19100189 cm Q q 1 0 0 1 0 137.99000549 cm Q q 1 0 0 1 0 151.78900146 cm Q q 1 0 0 1 0 165.58799744 cm BT /FAAAAH 12 Tf 1 0 0 -1 0 11.25599957 Tm 2 Tr 0 g 0.34285715 w 0 G [(Date: )-8957(March 04, 202)-1(2)] TJ ET Q q 1 0 0 1 0 179.38699341 cm Q q 1 0 0 1 0 193.18600464 cm BT /FAAAAH 12 Tf 1 0 0 -1 0 11.25599957 Tm 2 Tr 0 g 0.34285715 w 0 G [(Subje)-1(ct)1(:)-8012(Exela)-1( )1(Techn)-1(ologie)-1(s,)1( Inc. Partial Excha)-1(nge Off)1(er)-1( )] TJ ET Q q 1 0 0 1 0 206.98500061 cm BT /FAAAAH 12 Tf 1 0 0 -1 139.5 11.25599957 Tm 2 Tr 0 g 0.34285715 w 0 G [(Option Symbol)-1(:)1( XELA)] TJ ET Q q 1 0 0 1 0 220.78399658 cm BT /FAAAAH 12 Tf 1 0 0 -1 139.5 11.25599957 Tm 2 Tr 0 g 0.34285715 w 0 G [(Date: 03/10/20)-1(22)] TJ ET Q q 1 0 0 1 0 234.58299255 cm Q q 1 0 0 1 0 247.23199463 cm Q q 1 0 0 1 0 259.88101196 cm BT /FAAAAJ 11 Tf 1 0 0 -1 0 10.31799984 Tm 0 g [(Exela Techn)-1(ologie)-1(s,)1( Inc. \(XELA\) is the subject of a partial Offer to Exchange \(The Offer"\), )1(a)-1(s )1(d)-1(escribed )] TJ 1 0 0 -1 0 22.96699905 Tm [(belo)-1(w:)] TJ ET Q q 1 0 0 1 0 285.1789856 cm Q q 1 0 0 1 0 297.82800293 cm BT /FAAAAH 11 Tf 1 0 0 -1 0 10.31799984 Tm 2 Tr 0 g 0.31428573 w 0 G [(Purchase)-1(r:)] TJ /FAAAAJ 11 Tf 0 Tr [-8255(Exela Techno)-1(logies, Inc. \(XELA\))] TJ ET Q q 1 0 0 1 0 310.47698975 cm Q q 1 0 0 1 0 323.12600708 cm BT /FAAAAH 11 Tf 1 0 0 -1 0 10.31799984 Tm 2 Tr 0 g 0.31428573 w 0 G [(Security to be)] TJ ET Q q 1 0 0 1 0 335.7749939 cm BT /FAAAAH 11 Tf 1 0 0 -1 0 10.31799984 Tm 2 Tr 0 g 0.31428573 w 0 G [(Purchase)-1(d:)] TJ /FAAAAJ 11 Tf 0 Tr [( )-7754(Exela Techn)-1(ologie)-1(s,)1( Inc. \(XELA\) Common Share)-1(s)] TJ ET Q q 1 0 0 1 0 348.42401123 cm BT /FAAAAJ 11 Tf 1 0 0 -1 0 10.31799984 Tm 0 g [( )1( )1( )1( )] TJ ET Q q 1 0 0 1 0 361.07299805 cm BT /FAAAAH 11 Tf 1 0 0 -1 0 10.31799984 Tm 2 Tr 0 g 0.31428573 w 0 G [(Quantity:)] TJ /FAAAAJ 11 Tf 0 Tr [-9089(XELA will exch)-1(ange up to 100,000)-1(,)1(0)-1(00 of its )1(co)-1(mmon shares for 6.00% )] TJ 1 0 0 -1 144 22.96699905 Tm [(Series B Cumu)-1(lative Convertib)-1(le Perpetual Preferre)-1(d St)1(o)-1(ck )1(\("Ser)-1(ies B )] TJ 1 0 0 -1 144 35.61600113 Tm [(Preferred Stock"\))] TJ ET Q q 1 0 0 1 0 399.01998901 cm Q q 1 0 0 1 0 411.66900635 cm BT /FAAAAH 11 Tf 1 0 0 -1 0 10.31799984 Tm 2 Tr 0 g 0.31428573 w 0 G [(Off)1(e)-1(r )1(Terms:)] TJ /FAAAAJ 11 Tf 0 Tr [-7480(Each 20 XELA common sha)-1(res are exchanga)-1(ble for one share of Series B )] TJ 1 0 0 -1 144 22.96699905 Tm [(Preferred Stock with a li)-1(quidatio)-1(n preference of $25.00)-1( )1(p)-1(er )1(sh)-1(are of Series B )] TJ 1 0 0 -1 144 35.61600113 Tm [(Preferred Stock. As a result, existing holders of the Series B Preferred Stock need not take any action. 2022 Canjex Publishing Ltd. All rights reserved.

Par Chadha, that he plans to fully participate in the Offer, provided that if the Offer is fully subscribed, he intends to limit his participation in the Offer to 20.6% of his Common Stock (representing the percentage of the outstanding Common Stock being sought in the Offer). 8 0 obj It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Copyright 2022 InvestorPlace Media, LLC.

2701 East Grauwyler Road, Irving, TX, USA, 75061. These are relatively rare. Shareholders of Exela are strongly encouraged to read the Schedule TO and related exhibits because they contain important information about the Offer.

Texas Forget Expensive Solar Panels, Do This Instead.

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Before investing in preferred stock, it is important to know which of the above groups the stock belongs to. 5 0 obj * For other sections: All numbers are in millions except for per share data, ratio, and percentage. Wall Street closes higher boosted by strong Tesla earnings, Snap (SNAP) Shares Plunge 25% Following Weak Q2 Results, Lack of Guidance, US President Biden Tests Positive for Covid, Seagate Technology (STX) Sinks on Q4 Miss, Lower Guidance, Analysts Remain Positive on Tesla as Profitability is Likely to Improve From Here, Ford Motor (F) to Cut Up to 8,000 Jobs - Bloomberg, Tesla (TSLA) Converted 75% of Bitcoin to Fiat Currency by End of Q2, Carnival Corp. (CCL) Announces $1B Common Stock Offering, Amazon (AMZN) to Acquire One Medical (ONEM) for $18 Per Share, P/E Firm Said Lining Up Financing for Potential Akamai (AKAM) Bid - Source, Pre-Open Movers: One Medical Surges on Amazon Takeover, Carnival Falls on Stock Offering, After-Hours Movers: Alcoa, CSX, Tesla Gain Following Earnings, Pre-Open Movers: Netflix Gains on Sub Beat, Bath & Body Works Down on Weak Outlook, Pre-Open Movers: West Fraser Timber Gains on Takeover Report, JNJ on Earnings, Pre-Open Movers: Boeing, Spirit AeroSystems Gain on Delta 737 Max Orders, UPDATE: Stanley Black & Decker (SWK) Raises Qtr Dividend 1.3% to $0.80; 2.8% Yield (CORRECTION), WeTrade Group (WETG) Prices 10M Share Offering at $4/sh, Uplists to Nasdaq, South Plains Financial Inc. (SPFI) Raises Quarterly Dividend 9.1% to $0.12; 2% Yield, Cumulative dividends from March 11, 2022, at the rate of 6% per annum on the $25 per share liquidation preference, representing a 21.4% yield based on the April 15, 2022 closing price of the Common Stock, and.

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