top of page

Exela Technologies - Exchange Offer - Update

Exela Technologies, Inc. Announces Elimination of Early Tender Time and Initial Settlement Date


30 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Exela (Source: Exela Technologies)


"IRVING, Texas, June 30, 2023 (GLOBE NEWSWIRE) – Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA) today announced that it has eliminated the early tender time of 5:00 p.m., New York City time, on June 29, 2023 and the initial settlement date with respect to the previously announced exchange offer (the “Exchange Offer”) by certain of its subsidiaries for Old Notes as described in the Offering Memorandum (as defined below).

As of 5:00 p.m., New York City time, on June 29, 2023, approximately $1,270.7 million of outstanding Old Notes were tendered for exchange pursuant to the Exchange Offer.

As a result, the Exchange Offer and the Consent Solicitation will expire at 11:59 p.m. New York City time on July 7, 2023, unless extended or terminated (the “Expiration Time”). The Company expects the Final Settlement Date for the Exchange Offer to occur promptly after the Expiration Time. Upon settlement, Old Notes validly tendered and not validly withdrawn at or prior to the Expiration Time will be exchanged into the Issuers’ new 11.500% First-Priority Senior Secured Notes due 2026 (the “New Notes”) on the basis of $800 principal amount of the New Notes for each $1,000 principal amount of outstanding Old Notes.

The deadline to validly withdraw tenders of the Old Notes was also extended to 11:59 p.m., New York City time, on July 7, 2023.

The Exchange Offer and the Consent Solicitation are being made upon the terms and conditions set forth in the confidential offering memorandum and consent solicitation statement, dated June 8, 2023 (as supplemented on June 16, 2023 and June 30, 2023, the “Offering Memorandum”). Capitalized terms used but not defined in this press release have the respective meanings ascribed to such terms in the Offering Memorandum."


...

 

Exela Technologies, Inc. Announces Satisfaction of the Requisite Consents Condition and Extension of Early Tender Time


23 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Exela (Source: Exela Technologies)


"IRVING, Texas, June 23, 2023 (GLOBE NEWSWIRE) – Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA) today announced that it has extended the early tender time from 5:00 p.m., New York City time, on June 22, 2023 (the “Original Early Tender Time”) until 5:00 p.m., New York City time, on June 29, 2023 (the “Extended Early Tender Time”), with respect to the previously announced exchange offer (the “Exchange Offer”) by certain of its subsidiaries for Old Notes as described in the Offering Memorandum (as defined below).

As of the Original Early Tender Time, approximately $955.5 million of outstanding Old Notes were tendered for exchange pursuant to the Exchange Offer and the Requisite Consents condition had been satisfied.

The Company expects the Initial Settlement Date for the Exchange Offer to occur promptly after the Extended Early Tender Time. Upon settlement, Old Notes validly tendered at or prior to the Extended Early Tender Time and not validly withdrawn in accordance with the terms of the Exchange Offer will be exchanged into the Issuers’ new 11.500% First-Priority Senior Secured Notes due 2026 (the “New Notes”) on the basis of $800 principal amount of the New Notes for each $1,000 principal amount of outstanding Old Notes.

The deadline to validly withdraw tenders of the Old Notes was not extended and expired at 5:00 p.m., New York City time, on June 22, 2023 (the “Withdrawal Deadline”). The Exchange Offer and the Consent Solicitation will expire at 11:59 p.m. New York City Time on July 7, 2023, unless extended or terminated.

The Exchange Offer and the Consent Solicitation are being made upon the terms and conditions set forth in the confidential offering memorandum and consent solicitation statement, dated June 8, 2023 (as supplemented on June 16, 2023, the “Offering Memorandum”). Capitalized terms used but not defined in this press release have the respective meanings ascribed to such terms in the Offering Memorandum."


...

 

Exela Technologies Announces Offer for its Senior Secured Notes


08 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Exela (Source: Exela Technologies)


"IRVING, Texas, June 08, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) today announced that certain of its subsidiaries have commenced an offer to exchange any and all of their outstanding 11.500% First-Priority Senior Secured Notes due 2026 (the "Old Notes") issued by Exela Intermediate LLC (the “Issuer”) and Exela Finance Inc. (together with the Issuer, the “Issuers”) into new 11.500% First-Priority Senior Secured Notes due 2026 (the “New Notes”) issued by the same Issuers."


...

Tags:

2 views0 comments

Comments


bottom of page