Exela Technologies Inc (XELA)

[Luckypennyman]

8-k..raising approximately $26.8 million


https://sec.report/Document/0001104659-21-039206/




Item 1.01 Entry into a Material Definitive Agreement.



On March 15, 2021, Exela Technologies, Inc. (“Exela” or “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain PIPE investors (the “Investors”) for the purpose of raising approximately $26.8 million in gross proceeds for the Company (the “Offering”). Pursuant to the terms of the Purchase Agreement, the Company agreed to sell in a private investment in public equity transaction, an aggregate of 9,731,819 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a price of $2.75 per share, together with warrants to purchase an aggregate of 9,731,819 shares (the “Warrant Shares”) of Common Stock (the “Warrants” and together with the Shares and the Warrant Shares, the “Securities”), at an exercise price of $4.00 per Share. The warrants will be exercisable beginning on the calendar date following the six month anniversary of the date of issuance and will expire five years from the date when first exercisable. The closing of the sales of the Securities pursuant to the Purchase Agreement occurred on March 18, 2021. The gross proceeds to the Company from the Offering are approximately $26.8 million before deducting placement agent fees and other estimated offering expenses.