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Exela Technologies (NASDAQ:XELA) stock is on the rise Monday as investors react to new notes news from the company.
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Let’s dive into that news, as well as what else potential investors need to know about XELA stock today!
Exela Technologies currently has a note exchange program underway.
This program allows holders of XELA stock to exchange their shares for notes.
The company has announced it’s increasing the exchange price.
That has it valuing its shares at $1.25 instead of the previous $1.
With this change, holders can now exchange 20 shares of XELA stock for a $25 note.
This note has a 6% annual interest rate and is due in 2029.
Exela Technologies is allowing up to $125,000,000 of New Notes to be issued in this exchange.
That news has investors taking an interest in XELA stock with heavy trading today.
As of this writing, more than 55 million shares of the company’s stock have changed hands.
That’s a major jump over the 33 million shares that traded on average every day.
Exela Technologies is a business process automation company with over 4,000 customers across more than 50 countries.
The company focuses on bringing together systems to reduce inefficacies and offer customized data to customers.
It was founded in 2017 and went public via a special purpose acquisition company (SPAC) merger that same year.
XELA’s market capitalization is sitting at $292.178 million.
XELA stock is up 4.4% as of Monday afternoon.
There’s more stock market news investors will want to keep up with below!
We’ve got all the latest stock news that traders need to know about for Monday! A few examples include Anghami (NASDAQ:ANGH) rocketing after its public debut, ON Semiconductor (NASDAQ:ON) stock jumping on earnings, as well as details of the Spirit Airlines (NYSE:SAVE) merger. you can find all of those details at the following links!
More Stock Market News for Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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