Exela Technologies Announces 1-for-200 Reverse Split

  • Investing.com
Exela Technologies Announces 1-for-200 Reverse Split

Exela Technologies (NASDAQ: XELA ), Inc. (“Exela” or the “Company”) (XELA, XELAP), a global business process automation (“BPA”) leader, announced that its Board of Directors has approved a 1-for-200 reverse stock split of the Company’s common stock, which will be effective at 5:00 p.m. Eastern Time on Friday, May 12, 2023.

The amendment to the Company’s certificate of incorporation allowing for the reverse split was approved by the Company’s stockholders at the Special Meeting held May 11, 2023. As a result of the reverse split, each two hundred shares of the Company’s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. The Company’s shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market commencing upon market open on May 15, 2023. Immediately after the reverse split becomes effective, there will be approximately 6.4 million shares of common stock issued and outstanding.

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