Exela Technologies Inc.

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SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Ex-Sigma 2 LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/12/2017

3. Issuer Name and Ticker or Trading Symbol
Exela Technologies, Inc. [ XELA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.0001 per share ("Common Stock")⁽¹⁾⁽⁶⁾	84,912,500	D
Common Stock⁽¹⁾⁽⁶⁾	1,250,000	D
Common Stock⁽²⁾⁽³⁾⁽⁶⁾	86,162,500	I	See Footnote⁽²⁾⁽³⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Convertible Preferred Stock, par value $0.0001⁽¹⁾⁽⁴⁾⁽⁶⁾	⁽⁴⁾⁽⁵⁾	⁽⁴⁾⁽⁵⁾	Common Stock	3,263,473	⁽⁴⁾⁽⁵⁾	D
Series A Convertible Preferred Stock⁽²⁾⁽³⁾⁽⁶⁾	⁽⁴⁾⁽⁵⁾	⁽⁴⁾⁽⁵⁾	Common Stock	3,263,473	⁽⁴⁾⁽⁵⁾	I	See Footnote⁽²⁾⁽³⁾

1. Name and Address of Reporting Person^*

Ex-Sigma 2 LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

HOV Capital III LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Adesi 234 LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

hof 2 llc

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

HOVS LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

HOV Services Ltd

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

HandsOn Fund 4 I, LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

CHADHA PAR

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

HandsOn Global Management, LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Ex-Sigma LLC

(Last)

(First)

(Middle)

8550 WEST DESERT INN ROAD, SUITE 102-452

(Street)

LAS VEGAS

89117

(City)

(State)

(Zip)

Explanation of Responses:

1. Ex-Sigma 2 LLC, a Delaware limited liability company ("Ex Sigma 2"), directly owns the following securities of the Issuer: (a) 80,600,000 shares of Common Stock received upon consummation of the merger (the "Merger") of a subsidiary of the Issuer into SourceHOV Holdings, Inc. on July 12, 2017 and (b) 4,312,500 shares of Common Stock and 2,669,233 shares of Preferred Stock each purchased at a price of $8 per share (the "PIPE Investment") in connection with the Merger. The closing of the PIPE Investment occurred immediately prior to the consummation of the Merger. See footnote 3. HandsOn Global Management, LLC, a Delaware limited liability company ("HGM"), directly owns 1,250,000 shares of Common Stock received pursuant to the reinvestment of a consulting agreement termination fee concurrent with the closing of the Merger (the "Reinvestment").

2. Ex-Sigma 2 is a wholly-owned subsidiary of Ex-Sigma LLC, a Delaware limited liability company ("Ex-Sigma"). HOVS LLC, a Delaware limited liability company ("HOVS"), HandsOn Fund 4 I, LLC, a Nevada limited liability company ("HOF 4"), and HOV Capital III, LLC, a Nevada limited liability company ("HOV 3") each directly own equity interests in Ex-Sigma. HOVS is a wholly-owned subsidiary of HOV Services Ltd., an Indian limited company ("HOV Services").

3. Adesi 234 LLC, a Nevada limited liability company ("Adesi"), and HOF 2 LLC, a Nevada limited liability company ("HOF 2" and together with Ex-Sigma, Ex Sigma 2, HGM, HOVS, HOV Services, HOF 4, HOV 3, Adesi, and Mr. Par Chadha, the "HGM Group") together own a majority of HOF 4. Adesi and HOF 2, own a majority of the equity interests of HOV 3. By reason of Rule 13d-3 of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"), the direct and indirect equity owners in Ex Sigma 2 identified above and HGM may be deemed to beneficially own any shares of the Issuer owned by the entities in which they are beneficial owners. Each member of the HGM Group disclaims beneficial ownership of any shares of the Issuer owned by any other member of the HGM Group, except to the extent of its pecuniary interest therein.

4. Ex-Sigma 2 owns 2,669,233 shares of Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock is convertible into the number of shares of Common Stock equal to the Applicable Conversion Rate (as defined in the Issuer's Certificate of Designations, Preferences, Rights and Limitations of Series A Perpetual Convertible Preferred Stock (the "Certificate of Designation")) in effect as of the date of such conversion.

5. The initial Applicable Conversion Rate is 1.2226 shares of Common Stock for each share of Preferred Stock, which rate will increase following the third anniversary of the date of issue, (x) at the election of the holder, (i) following a Fundamental Change (as defined in the Certificate of Designation), or (ii) after January 12, 2018 or (y) at the election of the Company from and after the time that the weighted average price of the Common Stock equals or exceeds $24 for at least 5 consecutive days on which trading in the Common Stock generally occurs on the Nasdaq Stock Market. The shares of Series A Convertible Preferred Stock have no expiration date.

6. Solely for purposes of Section 16 of the Exchange Act, the HGM Group may be deemed to be directors-by-deputization by virtue of the HGM Group's contractual right to designate directors to the board of directors of the Issuer (the "Board"). For purposes of the exemption under Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, the Board approved the acquisition of any direct or indirect pecuniary interest of any and all shares of the Issuer by each member of the HGM Group as a result of or in connection with the Merger, the PIPE Investment and/or the Reinvestment.

Remarks:

Exhibit List: Exhibit 99.2 - Joint Filers' Names and Addresses Exhibit 99.3 - Joint Filers' Signatures

	EX-SIGMA 2 LLC By: /s/ James Reynolds Name: James Reynolds Title: President	07/24/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Exhibit 99.2

Joint Filers’ Names and Addresses

1. HOV Capital III LLC

2. Adesi 234 LLC

3. HOF 2 LLC

4. HOVS LLC

5. HOV Services Ltd

6. HandsOn Fund 4 I LLC

7. Par Chadha

8. HandsOn Global Management, LLC

9. Ex-Sigma LLC

The business address for each of the above reporting persons is:

8550 West Desert Inn Road, Suite 102-452

Las Vegas, NV 89117

Exhibit 99.3

JOINT FILERS’ SIGNATURES

HOV CAPITAL III LLC

By:	/s/ Par Chadha
Name: Par Chadha
Title: Manager

ADESI 234 LLC

By:	/s/ Par Chadha
Name: Par Chadha
Title: Manager

HOF 2 LLC

By:	/s/ Par Chadha
Name: Par Chadha
Title: Manager

HOVS LLC

By:	/s/ James Reynolds
Name: James Reynolds
Title: Manager

HOV SERVICES LTD

By:	/s/ Vik Negi
Name: Vik Negi
Title: Director

HANDSON FUND 4 I LLC

By:	/s/ Par Chadha
Name: Par Chadha
Title: Manager

/s/ Par Chadha
Par Chadha

HANDSON GLOBAL MANAGEMENT, LLC

By:	/s/ Par Chadha
Name: Par Chadha
Title: Manager

EX-SIGMA LLC

By:	/s/ James Reynolds
Name: James Reynolds
Title: President