Welcome to our dedicated page for Exela Technologies 6 00 Cum Convt Perptl Pref Shs Series B news (Ticker: XELAP), a resource for investors and traders seeking the latest updates and insights on Exela Technologies 6 00 Cum Convt Perptl Pref Shs Series B stock.
Exela Techs Inc 6% Series B (XELAP) is a preferred stock issued by Exela Technologies, Inc., a company that describes itself as a global business process automation and outsourcing specialist. The XELAP news stream on Stock Titan is closely tied to Exela’s corporate announcements, strategic initiatives, and capital markets updates, because developments at the issuer level can influence the risk profile of this preferred security.
Exela’s recent news highlights its activity across automation, data processing, and digital transformation. The company has reported strategic partnerships, such as its alliance between the Finance and Accounting Outsourcing business and recruitment firm Michael Page to expand Centers of Excellence and deploy Build‑Operate‑Transfer, captive, and Business Processes as a Service models. In healthcare, Exela has announced a strategic alliance with AIDEO Technologies to enhance its PCH Global platform with AI‑driven autonomous medical coding.
News items also cover cybersecurity and AI initiatives through the Reaktr business unit, including the launch of the SecAi service on Oracle Cloud Infrastructure and a sizable breach remediation contract described as accretive to Exela’s Information and Transaction Processing Solutions segment. These developments illustrate how Exela applies automation, AI, and cybersecurity capabilities across industries such as banking, healthcare, insurance, manufacturing, and the public sector.
For investors in XELAP, regulatory and capital markets news is particularly relevant. Exela has disclosed Nasdaq’s decision to delist its securities, the suspension of trading on Nasdaq, and the subsequent trading of its common and Series B preferred stock on the OTC Markets system. The company has also announced its intention to voluntarily delist from Nasdaq and pursue deregistration under the Exchange Act, subject to conditions and its right to delay or withdraw filings.
On this page, readers can follow earnings announcements, conference call notices, strategic partnerships, cybersecurity contracts, AI product launches, and listing‑status updates related to Exela. Monitoring these items helps investors understand the evolving context around Exela’s operations and capital structure, which are central to assessing the XELAP preferred stock. Bookmark this feed to review new company disclosures and historical news that frame the environment in which XELAP trades.
Exela Technologies (NASDAQ: XELA, XELAP) has secured a $2.5 million contract with France's L’Assurance Maladie Caisse Nationale (Cnam), aimed at enhancing digital transformation efforts. The 4-year deal could exceed $4.5 million, involving the deployment of advanced document processing solutions, including Raptor and Intelliscan XDS scanners. Initial rollouts are set for two sites in 2022, expected to manage 40,000 documents daily, improving efficiency in healthcare claims processing. Exela’s digital solutions continue to attract clients amidst high global inflation.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a major customer win of $136 million in total contract value (TCV) over three years, bringing its year-to-date XBP TCV wins to $175 million. This contract highlights the effectiveness of Exela's Exchange for Bills and Payments (XBP), which is a key contributor to its $874.2 million ITPS accounting segment for FY 2021. The XBP solution leverages Exela’s TMS® and Beats® platforms, improving transaction control and insights for customers.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has closed a three-year $150 million financing facility with PNC Bank, expected to generate $6 million in estimated annual interest savings. This replaces the company's existing securitization facility and is based on current borrowing levels priced at L+400 bps. The move aims to enhance Exela's financial flexibility while supporting its global business process automation services. The company serves over 4,000 clients worldwide, including more than 60% of the Fortune 100.
Exela Technologies, Inc. has appointed Lakshmi Narayanan Chandramohan as President of Bills and Payments. With 27 years of experience, he will enhance Exela's Exchange for Bills and Payments (XBP) services, crucial for financial institutions. XBP is a leading revenue generator within the ITPS segment, focusing on digital transformation solutions. The appointment aims to bolster Exela's operational efficiency and customer experience amid industry challenges, including competitive pressure and regulatory demands.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a dividend of $0.46 per share for its 6.00% Series B Cumulative Perpetual Convertible Preferred Stock. This dividend applies to the quarter ending June 30, 2022 and includes the first 20 days of issuance in March 2022. It is payable in cash on June 30, 2022, to shareholders on record as of June 20, 2022.
Exela Technologies announced a 5-year contract renewal with a leading Irish bank, originally established in 2013. The renewal adds $19 million to the Total Contract Value and incorporates Exela's entire XBP suite, enhancing liquidity solutions, client communication, and transaction processing.
Vitalie Robu, President of Exela EMEA, emphasized the strategic importance of Ireland and the region's role as a model for growth in Europe.
Exela Technologies has advanced its Capital Deployment Strategy aimed at maximizing shareholder value, as outlined in their June 6, 2022 press release. The company plans to initiate the sale of several stand-alone assets, expected to generate proceeds exceeding $200 million. This initiative will be complemented by efforts to negotiate debt maturities and may pave the way for a future stock buyback program. Exela emphasizes that the success of these initiatives hinges on obtaining necessary approvals and executing asset sales effectively.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced $18.3 million in new customer contracts to be realized over three years, starting in Q3 2022. These contracts involve two new clients and highlight the robust performance of Exela's Exchange for Bills and Payments (XBP), a key revenue driver in their ITPS segment. The company noted increased interest in XBP solutions, attributed to pandemic recovery. Exela continues to pursue additional opportunities to leverage XBP's strengths, positioning itself as a leader in bill and payment processing.