Exela Technologies Inc (NASDAQ:XELA) Stock Attempts To Recover: Now What?

If you are currently looking into innovative technology companies then it could be a good time to track Exela Technologies Inc (NASDAQ:XELA). It is a leading player in the business process automation (BPA) space which provides digital transformation solutions to bring about boosts in productivity, quality and efficiency. It has its proprietary technology and enjoys a global foot print as well.

At this point the company serves a global client base spanning across 4000 plus clients spread across 50 nations. Out of those, more than 60% are part of the Fortune 500. The foundational technologies at Exela are involved with workflow automation, integrated communications and information management. Additionally, the company also offers software and services for a range of industries like finance and accounting, facilities management, human capital management, healthcare, and insurance among others. It also offers solutions for the public sector. The company currently has 15000 employees and operates in 21 nations.

This past Friday Exela stock was one of the stocks to have gained strong momentum this past Friday and it is likely that it would be in focus this week. On July 18 the company had announced that it had signed up a number of new counties in the United States to its Digital Mailroom offering. That implied a continued boost to the company’s market share in the public sector customer space, which contributed to as much as $765 million in 2022 to its TIPS segment.

The company noted that it had been working with a number of counties so as to provide them with a secure, strong, and end-to-end solution that would bring clarity and organization to the entire process of digital transformation. The solutions also address compliance requirements concurrently. The Jersey Country Illinois County Clerk Daniel Schetter spoke about the development as well. He noted that was looking to collaborate with Exela for the purpose of modernizing its processes. It would also lead to a secure and faster workflow for all entities involved, he added.

The company made another major announcement on July 12 which investors ought to look into. The company announced the expiration and the concluding results of the previously announced exchange offer. The exchange offer was for the exchange of issuers’ outstanding 11.500% first priority senior secured noted that were due in 2026 for fresh 11.500% first priority senior secured noted that would be due in 2026.

Additionally, Exela also announced that it had solicited the necessary consent to move forward with the planned amendments with regards to the indenture of the Old Notes. The notes expired on 11.59 pm New York City time on July 7, 2023, as per information from D F King and Co.

The exchange offer was settled by the issuers on July 11, 2023, and that resulted in the issuance of an aggregate amount to the tune of as much as $1017 million in aggregate. It was a significant development for the company and one that may have a bearing on its stock price action.