Delayed Nasdaq  -  04:00 2022-08-18 pm EDT
1.320 USD   -5.71%
10:07aExela Technologies Secures Framework Contract With Public IT Provider in Germany
09:14aExela Technologies Announces Public Sector Contract Win in Germany
07:16aB. Riley Cuts Price Target on Exela Technologies to $2 From $7, Notes Q2 Miss Amid Network Outage, Inflationary Pressures, Staff Shortages; Neutral Kept
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Exela Technologies Announces Plans to Deploy over $200 Million in Expected Proceeds for the Next Step in Capital Deployment Strategy: Seek approval for share buyback, dividends, debt repurchase and sale of assets

06/06/2022 | 08:20am EDT

IRVING, Texas, June 06, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) today announced the next step in its multipart Capital Deployment Strategy (“Strategy”), previously announced on September 30, 2021 as part of a broader mandate to maximize shareholder value, proactively negotiate our remaining debt maturities and reduce the overall amount of debt along with repurchases of common stock. The Company remains focused on strengthening its financial foundation for improved cash flow generation which is essential for shareholder value expansion.

The Company’s Strategy calls for initiating sale processes for several stand-alone assets that are expected to generate proceeds in excess of $200 million. The Company may supplement this effort by raising lower cost debt and equity capital utilizing currently effective registration statements.

“We are close to finishing the first step of what we announced last September and our plans now include sales of assets as an incremental source of capital, with the ultimate goal of initiating a stock buyback program in the future, and returning capital to shareholders. We are thankful to our large, global shareholder base, our employees and our customers as we roll out the next step in our Strategy for 2022 and beyond,” noted Par Chadha, Executive Chairman.

The successful implementation of our Strategy is dependent upon obtaining appropriate approvals of various internal and external stakeholders, successful sale of the stand-alone assets, and other factors, many of which are outside of our control. Although the Company believes it will be able to obtain such approvals and will be successful in its endeavors, it cannot provide any assurances that it will be successful in obtaining such approvals or in effectively implementing and timely completing the Strategy, or that successful completion of the Strategy will have the desired impact.

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/

And please follow us on social:

Twitter: https://twitter.com/exelatech

LinkedIn: https://www.linkedin.com/company/exela-technologies

Facebook: https://www.facebook.com/exelatechnologies/

Instagram: https://www.instagram.com/exelatechnologies

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

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Source: Exela Technologies, Inc.

2022 GlobeNewswire, Inc., source Press Releases

10:07aExela Technologies Secures Framework Contract With Public IT Provider in Germany
09:14aExela Technologies Announces Public Sector Contract Win in Germany
07:16aB. Riley Cuts Price Target on Exela Technologies to $2 From $7, Notes Q2 Miss Amid Netw..
08/12EXELA TECHNOLOGIES, INC. Management's Discussion and Analysis of Financial Condition a..
08/11Exela Technologies Board Approves Plan to Repurchase Up to 10 Million Common Shares
08/11Exela Technologies, Inc. Announces Share Buyback Program of up to 10 Million Shares of ..
08/11Exela Technologies, Inc. announces an Equity Buyback for 10,000,000 shares.
08/10EXELA TECHNOLOGIES : Reports Preliminary Second Quarter 2022 Results - Form 8-K
08/10Exela Technologies, Inc. authorizes a Buyback Plan.
08/09EXELA TECHNOLOGIES : Q2 2022 Investor Presentation
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Analyst Recommendations on EXELA TECHNOLOGIES, INC.
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Financials (USD)
Sales 2022 1 126 M - -
Net income 2022 -207 M - -
Net Debt 2022 965 M - -
P/E ratio 2022 -0,39x
Yield 2022 -
Capitalization 85,8 M 85,8 M -
EV / Sales 2022 0,93x
EV / Sales 2023 0,88x
Nbr of Employees 17 000
Free-Float 99,4%
Duration : Period :
Exela Technologies, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends EXELA TECHNOLOGIES, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 1,32 $
Average target price 31,00 $
Spread / Average Target 2 248%
EPS Revisions
Managers and Directors
Shrikant Sortur Chief Financial Officer
Parvinder S. Chadha Executive Chairman
Sriram Ramanathan Chief Technology officer
John H. Rexford Independent Director
Martin P. Akins Independent Director
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