The share price of XELA in current trading hours stands at $0.80 with a 6.52% increase from the last trading period. The increase comes after multiple filings with the SEC. However, the last trading session closed at $0.8599 with an increase of 26.83%.
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Exela Technologies (XELA) is a business process automation company operating in 50 countries with over 4000 clients. It provides transaction processing solutions, enterprise information management, document management, and digital business process services worldwide. The headquarter of the company is based in Irving, Texas.
CEO’s Remarks
The Chief Executive Officer (CEO) of the company, Ron Cogburn made a statement “Solid Growth Momentum and $200 billion market opportunity”. He further added that their addressable market is $207 billion and is still growing. Despite the consequences of the COVID-19 pandemic, solid momentum is seen throughout the business, focused on the renewal rates, expansion activity, and addition of new activities, he said. The strong financial position of the company positions it to capitalize on its global total addressable market (TAM).
Financial Results
During Q3 of 2021, the company generated a revenue of $279,229 against $293,009 during the last quarter of the same year. Additionally, Exela Technologies, Inc reported a net income of -$13,214 during the third quarter of 2021. As a result, the diluted EPS was reported to be -0.09.
On January 26, 2022, last month, the company announced an offer for the shareholders to exchange up to 100 million shares for $100 million on a 6.00% annual interest rate. The tendered shares will be retired reducing the share amount by almost 29%. Holders of Common Stock who legitimately delicate on 11:59 p.m., EST, on February 24, 2022, will get for every 25 shares of Common Stock offered, a New Note having a principal amount equivalent to $25.
What next?
The share price of the company remains bullish in the market. The remarks from the Chief Executive Officer (CEO) of the company positively impact the investor’s sentiments. The trend of the stock price shows a positive future for the investors.
