UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events.
On June 10, 2022, Exela Technologies, Inc. (the “Company”) issued a press release announcing a $0.46 cents per share dividend on its outstanding 6.00% Series B Cumulative Perpetual Convertible Preferred Stock (NASDAQ:XELAP). Holders of shares of the Company’s Series B Preferred Stock are entitled to receive, when, as and if authorized by the Company’s Board of Directors and declared out of funds legally available for the payment of dividends, cumulative cash dividends at the rate of 6.00% per annum of the $25.00 liquidation preference per share of the Series B Preferred Stock ($0.375 per quarter). The dividend will be paid on June 30, 2022 to stockholders of record as of June 20, 2022. In addition to the second quarter of 2022, this first dividend also covers the 20 days in March when the Series B Preferred Stock was first issued. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
| 99.1 | Press Release, dated June 10, 2022 | |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: June 13, 2022
| EXELA TECHNOLOGIES, INC. | ||
| By: | /s/ Erik Mengwall | |
| Name: Erik Mengwall | ||
| Title: Secretary | ||
Exhibit 99.1
Exela Technologies Announces Dividend on Series B Preferred Stock
IRVING, Texas, June 10, 2022 -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), today announced that its Board of Directors has declared the payment of a dividend on the Company's outstanding 6.00% Series B Cumulative Perpetual Convertible Preferred Stock (“Series B Preferred Stock”).
In accordance with the terms of the Series B Preferred Stock, the Board of Directors declared a dividend of $0.46 per share of Series B Preferred Stock for the quarter ending June 30, 2022 and inclusive of the 20 days in March 2022 when the Series B Preferred Stock was first issued. This dividend is payable in cash on June 30, 2022, to Series B Preferred stockholders of record as of June 20, 2022.
About Exela Technologies
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. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner
For more Exela news, commentary, and industry perspectives, visit: https://investors.exelatech.com/
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The information posted on the Company's website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website and its social media accounts in addition to the Company's press releases, SEC filings and public conference calls and webcasts.
Forward-Looking Statements
Certain statements included 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 generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com
Mary Beth Benjamin
E: IR@exelatech.com