Exela Technologies announces 1 for 20 reverse stock split

Exela Technologies, Inc.

IRVING, Texas, July 25, 2022 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global leader in non-location based business process automation (BPA), has announced that the Board of Directors has approved a reverse stock split of 1 for 20 of the Company’s common stock, which It will become effective at 5:00 PM ET on Monday, July 25, 2022. The Exela Board of Directors approved the split and identified a 1-20 ratio as appropriate to meet Exela’s goals to improve the marketability and liquidity of its common stock, comply with Nasdaq listing requirements and allow the company’s management team to focus on its business.

As a result of the reverse split, all twenty shares of the Company’s issued and outstanding common stock will automatically be consolidated and converted into one issued and existing share of common stock. The company’s shares will begin trading on a hash rate basis on the Nasdaq Stock Exchange beginning with the market opening on July 26, 2022. Once the reverse split is activated, there will be approximately 64.8 million shares of common stock issued and outstanding.

About Exela Technologies

Exela Technologies is a leading Business Process Automation (BPA) company, leveraging global footprint and proprietary technology to provide digital transformation solutions that enhance quality, productivity, and end user experience. With decades of experience running mission-critical operations, Exela offers a growing list of more than 4,000 customers in 50 countries, including more than 60% of Fortune.® 100 – Using foundational technologies that include information management, workflow automation, and integrated communications, Exela software and services include multi-industry and departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as solutions for the banking, healthcare, insurance and public sector industries. . With cloud-powered platforms built on a configurable suite of automation modules, and nearly 17,000 employees operating in 23 countries, Exela rapidly deploys technology and integrated operations as a partner for an end-to-end digital journey.

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forward-looking statements

Certain statements in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually accompanied by words such as “may,” “should,” “will,” “plan” “intent”, “expect”, “believe”, “estimate”, “predict”, “potential”, “appear”, “seek”, “continue”, “future” or “will” or “expect” or expectations” or other similar words, phrases, or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or projected future results and benefits, Exela’s future opportunities, and other statements that are not historical facts. These statements are based on Exela management’s current expectations and are not projections of actual performance. Such statements are subject to a number of risks and uncertainties, including but not limited to those discussed under “Risk Factors” in Exela’s Annual Report and other securities filings. In addition, forward-looking statements provide Exela’s expectations, plans or predictions of future events and opinions as of the date of this communication. Exela anticipates that subsequent events and developments will alter Exela’s ratings. These forward-looking statements should not be relied upon as representing Exela’s assessments as of any date later than the date of this press release.

Investor and/or media contacts:

Vincent Condavite
Email: [email protected]

Mary Bet Benjamin
Email: [email protected]

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